Only 4 percent of mortgages in the U.S. were 30 days or more past due as of June 2019, according to a new report released from property information and analytics firm CoreLogic. That number represents a national mortgage delinquency rate that is currently at a 20-year low, a continuation of a 7-month downward trend in foreclosure rates. “A strong economy and eight-plus years of home price growth have made mortgage foreclosure an infrequent event,” CoreLogic Chief Economist Dr. Frank Nothaft said.

“This backdrop will help the mortgage market limit delinquencies in most of the country whenever a downturn should start.” While CoreLogic’s Loan Performance Insights Report points to some signs of early stage stress in a handful of states such as Vermont (which saw a 0.7 percent increase in delinquency), New Hampshire (+0.3%), Nebraska (+0.2%), and Minnesota (+0.2%), these increases, seen in a total of eight states, were still relatively small. “I would not look at those numbers and think that any of those states are really in a state of stress or even pre-stress,” CoreLogic Deputy Chief Economist Dr. Ralph McLaughlin told Chicago Agent. “What we’re seeing are not drastic shifts. … I wouldn’t look at those numbers and think the sky is … Read More

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