In their most recent National Delinquency Survey, the Mortgage Bankers Association are reporting that the delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 5.17% of all loans outstanding at the end of Q4, 2017. The delinquency rate was up 29 basis points from the previous quarter, and was 37 basis points higher than one year ago
“The FHA overall delinquency rate in the fourth quarter of 2017 is higher compared to the fourth quarter of 2016 in all but three states. FHA borrowers appear to be impacted not only by the storms but other factors that could be stretching their ability to make payments…Regardless of the hurricanes, an increase in delinquencies – particularly FHA delinquencies – off historic lows is not particularly surprising…”
“…Despite the hurricanes and these quarter-over-quarter results, most states are seeing overall mortgage delinquency rates at lower levels than a year ago.” According to Marina Walsh, MBA’s Vice President of Industry Analysis.”
