FHA Mortgage Delinquencies Hit 17.5%. In 30 Metros, over 20%: On the Other Side of a Red-Hot Housing Market | Wolf Street

“Low down payments, low closing costs, and easy credit qualifying,” the FHA promises. So FHA mortgages always have high delinquency rates, even during the Good Times, when they were already rising. But during the Pandemic, delinquencies ballooned, and they’re not improving in any way despite the improving economy:

The delinquency rate for the largest 169 Metropolitan Statistical Areas (MSAs), rather than the US overall, accounting for about 6 million of FHA mortgages, rose to 17.9%.

FHA Mortgage Delinquencies Hit 17.5%. In 30 Metros, over 20%: On the Other Side of a Red-Hot Housing Market | Wolf Street