Weather Sets Up Push-Pull with Delinquency Rate

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Posted To: MND NewsWire

Are weather patterns beginning to provoke annual swings in mortgage delinquencies? Black Knight suggests, in its first look at August 2018 mortgage performance data, that could be the case in 2017-2018. The incidence of mortgage distress was heading to millennium low levels last year before the one-two punch of Hurricanes Harvey and Irma. The first struck the Gulf Coast of Texas in the Houston region. A few weeks later Irma, although less destructive than anticipated, created havoc on both coasts of Florida and delinquency rates shot skyward in both states. A year later those hurricane related delinquencies have retreated; Black Knight reports that fewer than 25,000 remain on the mainland U.S. (most indicators of distress do not include the effects of Hurricane Maria on Puerto Rico and the...(read more)

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