Mortgage Delinquencies Surge

The Federal Reserve reported that home mortgage delinquencies rose to 7.91%, the highest level since the Fed began tracking delinquencies. Credit card delinquencies, at 6.5%, are also at record highs. Commercial real estate delinquencies are also rising rapidly at 6.4%. The overall delinquency rate of all consumer loans stands at 4.7%, also a record.

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