The rate of St. Louisans behind on their mortgage topped 6% in February, even as the number of people actually facing foreclosure stayed relatively flat. New figures out this week from First American Core Logic show a rising tide of people facing mortgage trouble as the weak job market drags on: 6.1% of St. Louis-area borrowers are at least 90 days delinquent, according to the real estate data firm. That’s better than the national figure of 8.78%, but it’s also up markedly from the same month last year, when 4.1% of mortgages were in default.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio