A new report by business and property data firm CoreLogic shows that mortgage delinquencies spiked in June. It’s now at 7.1 percent overall—the highest rate since the Great Recession. But the total figure includes people who have paused their repayments or entered mortgage forbearance.
CoreLogic’s deputy chief economist Selma Hepp told NTD that the areas worst hit like New York, New Jersey, Florida are the areas with the worst job losses.
It’s interesting that even though so many people are unable to pay their mortgages, house prices are rising fast and sales are really through the roof. Here is what Hepp said about what that will mean for house prices in the next 6-12 months.