Delinquencies on U.S. mortgages rose slightly in July, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey. The delinquency rate increased 0.1 percentage point to 2.7% from 2.6% in June.
The MBA’s delinquency survey covers mortgage loans on one- to four-unit residential properties. Delinquencies are measured as the percentage of loans that are 30 or more days past due, but not in foreclosure.
According to the MBA, the delinquency rate is still at historically low levels, but is expected to rise as the effects of the COVID-19 pandemic begin to be felt more acutely in the coming months.
– The MBA’s National Delinquency Survey showed that the delinquency rate for U.S. mortgages rose slightly in July, increasing 0.1 percentage point to 2.7% from 2.6% in June.
– The survey covers mortgage loans on one- to four-unit residential properties. Delinquencies are measured as the percentage of loans that are 30 or more days past due, but not in foreclosure.
– According to the MBA, the delinquency rate is still at historically low levels, but is expected to rise as the effects of the COVID-19 pandemic begin to be felt more acutely in the coming months.
You can read this full article at: https://www.housingwire.com/articles/mortgage-delinquencies-near-all-time-low-in-july-corelogic/(subscription required)
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