The impact on the mortgage market of Hurricane Harvey is already being shown in the latest data on delinquencies
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The impact on the mortgage market of Hurricane Harvey is already being shown in the latest data on delinquencies.
A first look at mortgage data for August 2017 by Black Knight Financial shows that delinquencies in the affected areas jumped 16% in August compared to July.
The impact is already being seen even though most payments were due August 1 well the storm made landfall near the end of the month.
Black Knight says over 6,700 new 30-day delinquencies can be attributed to Harvey and an additional 1,000 borrowers who were already 30 days past due missed an additional mortgage payment in August due to the storm.
The firm expects the heaviest impact on mortgage delinquency rates to come in September based on observations from previous hurricanes.
A first look at mortgage data for August 2017 by Black Knight Financial shows that delinquencies in the affected areas jumped 16% in August compared to July.
The impact is already being seen even though most payments were due August 1 well the storm made landfall near the end of the month.
Black Knight says over 6,700 new 30-day delinquencies can be attributed to Harvey and an additional 1,000 borrowers who were already 30 days past due missed an additional mortgage payment in August due to the storm.
The firm expects the heaviest impact on mortgage delinquency rates to come in September based on observations from previous hurricanes.
