Despite Record Unemployment, Delinquencies are Still Down From Last Year

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Posted To: MND NewsWire

The national delinquency rate rose significantly in the first quarter of 2020, driven largely by a surge in the early stage rates. The Mortgage Bankers Association said the rate of loans on one-to-four-unit residential properties rose 59 bps (bps) compared to the fourth quarter of 2019 to a seasonally adjusted rate of 4.36 percent of all loans . This was still 6 bps lower than the rate in the same quarter of last year. The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure MBA’s National Delinquency Survey (NDS) found the 30-day delinquency rate rose to 2.67 percent, 50-bps growth that matches the third quarter of 2017 as the highest quarterly increase in the NDS series dating back to 1979. The 60-day delinquency rate…(read more)

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