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Mortgage Delinquencies Sink to Pandemic Low as U.S. Jobs Return

Aug. 19, 2021, 4:20 PM

Mortgage delinquency rates plunged in the second quarter to the lowest level since the pandemic began, as the improving economy helps distressed homeowners get out of trouble.

The seasonally adjusted delinquency rate dropped to 5.47% of all loans outstanding, down from 8.22% a year earlier and the lowest since the first quarter of 2020, according to a survey by the Mortgage Bankers Association.

The decline in the delinquency rate for loans for veterans and Federal Housing Administration mortgages -- the affordable path to homeownership for many first-time buyers and low-income Americans -- was the biggest in data going back ...