Home Mortgage Delinquencies Soar by Most on Record in April
- Missed home loan payments jump by 1.6 million in April
- Mortgages 30 days or more in arrears almost doubled to 6.45%
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Delinquencies on U.S. home loans surged by 1.6 million in April, the biggest one-month gain ever, after the government cleared the way for Americans who lost income in the pandemic to delay payments without penalty.
Mortgages at least 30 days in arrears almost doubled to 6.45%, the highest rate since January 2015, according to data compiled by Black Knight Inc. About 3.4 million loans were more than 30 days late and an additional 211,000 properties were in foreclosure or on track for repossession by lenders.