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Delinquencies Decline, but That's not the Whole Story

Posted To: MND NewsWire

While overall mortgage delinquencies declined by 0.03 percent from July to August, Black Knight’s newest Mortgage Monitor reveals some disquieting information about mortgage delinquencies emerging out of the pandemic’s financial upheaval. The company, however, says there are also potentially mediating factors. The overall delinquency rate in August was 6.88 percent 3.6 percent above the pre-pandemic level, but down 0.03 percent month-over-month. The July to August change was considerably smaller than the 0.85 aggregate change in June and July, indicating the rate of improvement may be slowing. This does not, however, mean that more borrowers falling into financial difficulty, but rather that the problem is becoming persistent. The share of borrowers with only one missed payment was already…(read more)

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