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Delinquencies Back to Normal; Lowest Rates Since Feb; Existing Sales Rise Slightly

Delinquencies Back to Normal; Lowest Rates Since Feb; Existing Sales Rise Slightly

The national delinquency rate dropped by 7.62 percent in June and is now 42.39 percent below its rate at the worst of the pandemic. Black Knight, in its monthly report, says the June rate, at 4.37 percent, was also back below its pre-Great Recession average. Still, there are 2.32 million homeowners who are 30 or more days past due on their mortgage payments. Even though this is 191,000 fewer delinquent mortgages than in May and 1.714 million fewer than in June 2020, most of those loans, 1.550 million of them, are seriously delinquent, having missed three or more monthly payments. While that is four times the number of seriously delinquent loans that existed prior to the pandemic, it still represents continued improvement. Serious delinquencies are down 119,000 month-over-month and there was
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