In May, the US home mortgage delinquencies reached their highest level since November 2011 with 4.3 million borrowers being more than 30 days late on their payment.
The number of mortgages past due or in forclosure accounts for more than 8% of all US mortgages.
Although the increase in those being late was smaller than that of April, the uncertainty surrounding the pandemic still has many feeling unsure about their future as evidenced by the 20.5 million Americans who filed continuing claims for unemployment in the first week of June.
“Only 15% of homeowners in forbearance had made payments as of June 15, down from 28% in May and 46% in April.”