“Early-stage mortgage delinquency rates in May increased faster than any other debt type.”
https://www.investopedia.com/mortgage-delinquencies-rise-faster-than-other-loans-11765607
“Home prices in Florida were down 2.2% year-over-year in June.”
https://www.redfin.com/state/Florida/housing-market
-
Missed mortgage payments (30 to 59 days late) rose from 0.92% to 1.03%.
-
FHA loan delinquencies jumped 0.7%. VA delinquencies rose 0.57%.
-
West Palm Beach, Tampa, and Jacksonville saw price drops between 3% and 4.9%.
Some buyers are in trouble, mostly those using FHA or VA loans. These buyers often have smaller savings. Regular buyers with strong credit are not seeing the same stress. That gap is not being talked about enough.
The crash talk is loud. The numbers are soft. But the cracks are real. It’s not a collapse yet but it’s not nothing either.
1 view