Las Vegas' mortgage delinquency rate rose again in May after the coronavirus pandemic shut down much of the economy, a new report shows. Payments were at least 30 days late on 10.5 percent of home loans in the Las Vegas area in May, compared with 7.3 percent nationally, according to CoreLogic.
In April, payments were at least a month behind on 8.5 percent of Southern Nevada home loans, up more than double from 3.4 percent in March, the housing tracker previously reported. CoreLogic chief economist Frank Nothaft noted in a news release this week that the U.S. unemployment rate shot up from a 50-year low in February to an 80-year high in April after the pandemic sparked sweeping business closures and stay-at-home orders around the nation. Click here to continue reading the Las Vegas Review-Journal article.