MBA: more than six million renters and homeowners missed their September payments

On Friday, a day after the U.S. Department of Labor reported that the number of jobless claims for the previous week hit its highest level since August 22, the Mortgage Bankers Association’s Research Institute for Housing America released worrying third quarter data that says more than six million renters and homeowners missed their September payments. According to RIHA, the percentage of homeowners and renters behind on their payments fell compared to Q2, when 11 percent (5.9 million) of renters missed, delayed, or reduced payments and eight percent (5.1 million) homeowners missed or deferred at least one mortgage payment. By September, 8.5 percent of renters and 7.1 percent of homeowners were behind on their payments. The improving numbers, while a welcome sign of stability, haven’t been enough to quell concerns around the country’s stubbornly elevated unemployment levels. “There is growing con