The MBA reports mortgage delinquencies tracked closely with the nationwide unemployment rate in Q3, with an uptick in delinquencies across all loan types–with FHA’s portfolio experiencing the largest year-over-year increase.
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Despite Low Q2 Mortgage Delinquencies, Signs of ‘Consumer Credit Stress’ Remain
Marina Walsh, CMB, MBA’s VP of Industry Analysis, reported that “FHA delinquencies rose 10 basis points compared to year ago levels. … As the economy slows and labor market cools, homeowners with FHA loans are likely to feel the distress first.”
Read More »Serious Delinquencies Continue to Improve in May
Black Knight reports that during the month of May, past-due mortgages approached recent record lows as the number of borrowers a single payment past due improved by 94,000.
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