#NEW 8% of 2022 mortgage borrowers are underwater, finds Black Knight.
In Colorado Springs, that figure is +30%.
In Colorado Springs, that figure is +30%.
May, June, and July borrowers are the most affected.
As you can see in the chart, very few pre-2022 borrowers are underwater.
Very few might even be an understatement.
Very few might even be an understatement.
When I say "May, June, and July borrowers are the most affected," I'm talking May/June/July 2022.
The 30% figure for Colorado Springs is telling: much of the 8% figure comes from Western markets that have seen home prices fall sharply since June 2022.
(Presumably, 92% of 2022 borrowers are not underwater).
Home prices went up so high & so fast, that home price declines this time around put far fewer borrowers underwater.
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