Delinquency Rates Lowest in Decades,with Disaster-Related Exceptions
Posted To: MND NewsWireThe national delinquency rate declined by another 0.7 percent on an annual basis in April. Mortgage loans that were 30 or more days past due, including those in foreclosure, accounted for 3.6 percent of all outstanding mortgages.
The overall delinquency rate, according to CoreLogic’s April Loan Performance Report, is now at about a 20-year low. The early delinquency rate, loans 30 to 59 days past due ticked down to 1.7 percent from 1.8 percent a year earlier but the 60-89 and 90-119-day delinquency buckets have shrunk to the point there is little room for improvement.
Those rates were unchanged at 0.6 and 0.3 percent respectively. The serious delinquency rate fell to 1.0 percent from 1.6 percent and the foreclosure inventory, those loans in process of foreclosure, was at 0.5 percent of outstanding…
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