85% of Homeowners Worried Inflation Will Hurt Their Ability to Pay Mortgage
LOS ANGELES, April 12, 2023 /PRNewswire/ -- As economic uncertainty sweeps across the country, how worried are homeowners about making their mortgage payments? In the 2023 U.S. Mortgage Servicing Survey, digital mortgage-servicing platform Brace found out.
- LOS ANGELES, April 12, 2023 /PRNewswire/ -- As economic uncertainty sweeps across the country, how worried are homeowners about making their mortgage payments?
- The overwhelming majority, 85%, said inflation makes them worry about their ability to pay their mortgages.
- Nearly half (46%) of homeowners said the increased cost of living has already impacted their ability to pay their mortgages over the last three to six months.
- Younger homeowners are especially worried about their ability to pay their mortgage, a reversal from historical trends.