Delinquencies Post Fifth Month of Improvement
Posted To: MND NewsWireThe national delinquency rate posted its fifth consecutive decline in January, retreating to the lowest level since the start of the pandemic. CoreLogic says 5.6 percent of all mortgages were at least 30 days past due during the month, including those loans in foreclosure. This was an increase of 2.1 points compared to the 3.5 percent rate in January 2021. The rate has been declining since August 2020. The early stage delinquency rate, the percentage of loans 30 to 59 days past due, is now lower than the pre-pandemic rate in January 2020, 1.3 percent versus 1.7 percent. The next most adverse bucket, loans 60 to 89 days past due, is down from 0.6 percent to 0.5 percent. The rate of serious delinquencies, those loans more than 90 days past due including loans in foreclosure, remains elevated…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
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