Mortgage Delinquencies Up

Posted by: Peter Coy on March 17

Not sky-high yet, but mortgage delinquencies are edging upward and for all the reasons you’d expect: high energy prices, rising interest rates, lots of subprime and ARM loans, and the simple fact that risky loans issued in recent years have been outstanding long enough for borrowers to get in trouble.

Here’s the press release from the Mortgage Bankers Association.

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Reader Comments

Sally

March 20, 2006 10:51 AM

As I've written before, anytime 50% of your income goes to housing expense, something has to give...and in this case all the folks who ran out to get in on the RE boom because they thought they'd miss out are affected...we have such a herd mentality in this country.

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About

BusinessWeek editors Peter Coy, Dean Foust, Chris Palmeri and Prashant Gopal chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. Hot Property was a finalist for "Best Media-Affiliated Business Blog" in the 2007 EPpy Awards, presented by Editor & Publisher and Mediaweek, and was named among the 25 most influential real estate blogs of 2007 by Inman News.

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