The quarterly non-current mortgage rate surged 58 basis points, with government-insured performance taking the biggest beating. Much of the blame was ascribed to the effects from the recent hurricanes.
Single-family loans that were at least 30 days late or in the foreclosure inventory accounted for 6.11 percent of all outstanding mortgages as of Sept. 30.
That was worse than as of mid-2017, when the non-current rate was 5.53 percent. The rate also deteriorated from the same date last year, when it landed at 6.07 percent.
Source: Mortgage Daily
