US mortgage delinquencies jump by 1.6 million in record increase for April.

  • The 1.6 million increase in mortgage delinquencies is the largest ever recorded in a single month.
  • Mortgage delinquency rates nearly doubled from 3.4% in February to 6.5% in March.
  • 8.8% of mortgages are currently in forbearance.
  • “We currently estimate about 15 percent of homeowners will fall behind on their payments, compared to a peak delinquency rate of 10 percent during the Great Recession.”