Mortgage delinquencies surge more than 8% to a 9-year high as the coronavirus pandemic hits a corner of the housing market
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In addition, the delinquency rate for FHA mortgages, reserved for first-time homebuyers, jumped to a record high. Some homeowners are struggling to pay their mortgages amid the coronavirus pandemic as the ensuing recession continues to slam the labor market, according to a Monday report from the Mortgage Bankers Association.
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