Phoenix Area Real Estate Update 9/18/2020

If you see headlines stating “delinquency rates on the rise” those rates include mortgages in forbearance which are planned deferrals. According to Black Knight Financial, there are about 2 million more delinquent mortgages than there were in February. This chart shows that 30-day delinquencies are 14% lower than pre-pandemic numbers and the initial wave is subsiding.