Baltimore Ranks 8th Among the Cities With the Most People Delinquent on Mortgages
With the rate of mortgage delinquency ranging from around 3% to 23% depending on the city, the personal-finance website WalletHub today released its new report on the Cities With the Highest Mortgage Delinquency Rates, to highlight where people are at the biggest risk of credit score damage and foreclosure. WalletHub ranked 100 cities by analyzing proprietary user data from Q1 2024 to Q2 2024.
Baltimore Stats
- Overall Rank: 8th
- Mortgage Delinquency Rate in Q2 2024: 13.33%
- Change in Mortgage Delinquency Rate (Q2 2024 vs. Q1 2024): -4.90%
For the full report, please visit:
https://wallethub.com/edu/
Key takeaways and WalletHub commentary are included below in text and video format.
“The rate of mortgage delinquency varies significantly from city to city, ranging from around 3% to over 23%. The good news is that even though people in some cities are having much more difficulty paying their mortgages than others, the problem as a whole isn’t getting worse this year. In fact, the mortgage delinquency rate actually decreased in all but one of the 100 cities in our study between Q1 2024 and Q2 2024.”
—
“Laredo, TX, is the city where people are most delinquent on their mortgages, with more than 23% of mortgages in delinquent status as of Q2 2024. This is significantly higher than the delinquency rate in other major cities, with no other city in our study surpassing 17%. The one piece of good news is that Laredo residents’ delinquency rate is declining; even though it’s still the highest in the nation, it experienced a nearly 10% decrease between Q1 2024 and Q2 2024.”
– Chip Lupo, WalletHub Analyst
More From WalletHub
- States Where Mortgage Delinquency Is Increasing the Most
- States Where Credit Card Delinquency Is Increasing the Most
- States Adding the Most Mortgage Debt
- Cities Where People Are Most Delinquent on Debt
- Average Monthly Mortgage Payment