While the pandemic has seen a surprisingly healthy real estate market for homebuyers, homeowners have begun having trouble paying their mortgage.<br />The Mortgage Bankers Association says mortgage delinquencies rose a seasonally adjusted 8.22% in the second quarter to a nine-year high.<br />Also, the delinquency rate for FHA mortgages, reserved for first-time homebuyers, jumped to a record high.<br />According to Business Insider, the report says delinquencies generally track closely with the availability of jobs.<br />The states with the highest surges in mortgage delinquency rates were New Jersey, Nevada, New York, Florida, and Hawaii.<br />Those are all states that have a large number of leisure and hospitality jobs, the industry hardest hit by the pandemic.
