Mortgage Delinquencies Rise in March, First Time Since 2000

by Mike ‘Mish’ Shedlock
The Street

March is typically a very strong month performance-wise, but not this year due to Covid-19.

Blank Knight reports “March Sees First Ever Mortgage Delinquency Increase in Early Sign of COVID-19 Impact

Key Points

— In what’s typically the strongest month of the year for mortgage performance, delinquencies rose by 3.33%, the first March increase since the turn of the century, an early sign of COVID-19’s impact on the market

— Both the national foreclosure and 90-day delinquency rates set new record lows in March, a lingering reminder of the strength of the mortgage market heading into the pandemic

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