The Mortgage Bankers Association says the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 5.47% of all loans outstanding at the end of Q2 2021. In addition, their latest National Delinquency Survey says the delinquency rate was down 91 basis points from Q1 2021 and down 275 basis points from one year ago.
“Mortgage delinquencies across all loan types – conventional, FHA, and VA – reached their lowest levels since the first quarter of 2020,” said Marina Walsh, CMB, MBA’s Vice President of Industry Analysis. “The drop in the delinquency rate for FHA loans and VA loans was the largest quarterly decline for both in the history of MBA’s survey dating back to 1979.”
Click here to read the full report at the Mortgage Bankers Association.
