Mortgage delinquencies hit pandemic lows as US jobs return



August 19, 2021 4:20 PM

Mortgage delinquency rates fell in the second quarter to their lowest level since the start of the pandemic as an improving economy helps destitute homeowners out of trouble.

The seasonally adjusted delinquency rate fell to 5.47% of all outstanding loans, up from 8.22% a year earlier and the lowest since the first quarter of 2020, according to the study. Mortgage Bankers Association

The decline in FAA veteran loan and mortgage delinquencies – an affordable route to home ownership for many first-time homebuyers and low-income Americans – was the largest in data in years.


Source link