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Delinquencies Decline, but That's not the Whole Story
Monday, October 5, 2020
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.
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