Federal Housing Administration mortgage delinquencies hit an all-time, four-decade high, according to data released on Monday, a sign that disadvantaged homebuyers are clearly struggling in the pandemic-impacted economy.
The share of FHA mortgage delinquencies rose to almost 16%, in the second quarter, the highest level since 1979, as reported by the Mortgage Bankers Association. The delinquency rate for conventional loans, by comparison, sits at 6.7%. … READ MORE >