- Delinquent mortgages up 20% (3.3k 2013 to 4.18k)
- Banks wrote off 6 mortgages in the first 5 months versus 5 last year
- Banks typically consider mortgages outstanding for 90 days to be defaulted loans
- Analysts feel that the increase is due to investors taking advantage, pushing the limit before the TDSR
- Unemployment up form 1.8% to 2%
- 42 mortgage auctions, highest since 63 homes in 2009 ...
Straits Times provides an article on Saturday that there are more distressed mortgages:
