Mortgage delinquencies caused by the coronavirus will exceed Great Recession levels, according to this forecast

The coronavirus-fueled economic downturn is hitting homeowners hard. And the worst may be yet to come.

A new report from U.K.-based economic forecasting firm Oxford Economics estimates that 15% of homeowners will fall behind on their monthly mortgage payments. If that forecast comes to fruition, mortgage delinquencies caused by the coronavirus pandemic would exceed the number seen during the Great Recession. Back then, the peak delinquency rate was 10%.