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Mortgage Payment Delinquency Study: Baltimore in Top Ten!
THE BUZZ!
Baltimore among cities with highest mortgage delinquency rates, WalletHub study
Hey there, homebuyers! Want to know where it’s really tough to keep up with your mortgage payments?
According to a new report by WalletHub, Baltimore is definitely on the list. With a delinquency rate between 3% and 23%,
WalletHub looked at data from early 2024 to see where the problems were worst. And unfortunately, Baltimore made the top 10. Coming in at number 8.
Some contributing factors include, expensive mortgage rates and home prices, coupled with a rising cost of living. All that and more have made it difficult for many homeowners to keep up with their home loan payments.
Most Delinquent
|
Overall Rank*
|
City
|
Mortgage Delinquency Rate in Q2 2024
|
Change in Mortgage Delinquency Rate: Q2 2024 vs Q1 2024
|
|---|---|---|---|
|
1
|
Laredo, TX
|
23.27%
|
-9.94%
|
|
2
|
Detroit, MI
|
16.15%
|
-5.72%
|
|
3
|
Baton Rouge, LA
|
14.87%
|
-3.93%
|
|
4
|
Philadelphia, PA
|
14.61%
|
-5.53%
|
|
5
|
Newark, NJ
|
14.39%
|
-4.30%
|
|
6
|
Corpus Christi, TX
|
14.16%
|
-3.19%
|
|
7
|
El Paso, TX
|
13.42%
|
-5.59%
|
|
8
|
Baltimore, MD
|
13.33%
|
-4.90%
|
|
9
|
Lubbock, TX
|
13.21%
|
-7.39%
|
|
10
|
Memphis, TN
|
12.67%
|
-6.87%
|
The Least Delinquent
|
100
|
Madison, WI
|
2.32%
|
-18.02%
|
So homeowners make sure you stay on top of those mortgages. If you need help there are resources for
Source: Nottingham.MD / Wallett Hub
