FHA Delinquency Report

Below numbers from FHA.... this is direct cut and paste from the report I read. As I've been saying for months.... buckle up. 

FHA Report on Delinquencies

The FHA’s latest report showed that 30-day mortgage delinquencies rose to 6.0% in November 2024, which is up 2.1% from the beginning of 2022.

Serious delinquencies, or those 90+ days delinquent, have also begun to rise. Within the report consumers shared the reason for not being able to make mortgage payments.

Consumers saying that they cannot make a payment due to being unemployed has risen significantly. The share reporting this back in Q4 2020 was 1.8%, which then rose to 7.7% in Q4 2023, and more recently rose to 12.1% in Q4 2024! That is a huge increase, potentially showing that the labor market may not be as strong as the published figures are showing.

Additionally, those not able to pay because of excessive obligations, or too much debt, has risen from 2.71% in Q4 2020 to 20.1% in Q4 2024.

Another sign that consumers are stretched and overloaded with debt.