Serious Home Mortgage Delinquencies Up Despite Robust Housing Market
Despite the robust housing market in Georgia and around the country, the level of serious mortgage delinquencies this summer reached its highest level since 2014. Serious mortgage delinquencies-- defined as mortgages that are at least 90 days late-- represented over 4% of all home mortgage loans in July. Real estate experts say that despite the numbers of borrowers taking advantage of current low home mortgage rates and a continuing shortage of available homes, economic uncertainty in a number of industries including tourism and oil and gas exploration is negatively affecting many home owners.
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