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Weaker economy, inflation caused mortgage delinquency uptick in Q4

The overall national mortgage delinquency rate rose in the fourth quarter of 2022, due in part to a weaker economy and ongoing inflationary pressures.

The delinquency rate for mortgage loans on one- to four-unit residential properties rose 51 basis points from the previous quarter to a seasonally adjusted rate of 3.96% of all loans outstanding in the fourth quarter of 2022, according to the Mortgage Bankers Association (MBA).

“As expected, the overall national mortgage delinquency rate increased in the fourth quarter of 2022 from its previous quarterly survey low,” Marina Walsh, MBA’s vice president of industry analysis, said.

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