General World News

Mortgage delinquency rate rebounds after hitting record lows

The national mortgage delinquency rate rose in June after hitting consecutive record lows in each of the previous three months.

The overall delinquency rate rose nine basis points to 2.84% in June, according to Black Knight. The delinquency rate is 35% lower than the same period last year and remains 30% below pre-pandemic levels. 

A total of 1.51 million properties were in early-stage delinquencies, defined as borrowers who missed a single mortgage payment, which is a 5% increase from May. 

“Early-stage delinquencies have been gradually rising over the past year and a half – ever since hitting record lows details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com