Housing Crash 2: We Have Never Seen Mortgage Delinquencies Rise This Fast In U.S. History

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 8.22 percent of all loans outstanding at the end of the second quarter of 2020, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey. The delinquency rate increased 386 basis points from the first quarter of 2020 and was up 369 basis points from one year ago.

I had never heard of such carnage before, and the Mortgage Bankers Association is telling us that this was “the biggest quarterly rise” in the history of their survey…

theeconomiccollapseblog Housing Crash 2: We Have Never Seen Mortgage Delinquencies Rise This Fast In U.S. History