CoreLogic Says Mortgage Delinquencies Continue to Fall
According to the latest The CoreLogic Loan Performance Insights Report the serious delinquency rate for February 2022 fell to 1.6%, down from 3.7% in February, 2021. In addition, in February 3.2% of all mortgages in the U.S. were in some stage of delinquency representing a 2.5 percentage-point decrease compared to February 2021, when it was 5.7%. The report also said that February’s Foreclosure Inventory rate was the lowest since January, 1999.
Key findings:
- Early-Stage Delinquencies (30 to 59 days past due): 1.3%, down from 1.5% in February 2021.
- Adverse Delinquency (60 to 89 days past due): 0.3%, down from 0.5% in February 2021.
- Serious Delinquency (90 days or more past due, including loans in foreclosure): 1.6%, down from 3.7% in February 2021 and a high of 4.3% in August 2020.
- Foreclosure Inventory Rate (the share of mortgages in some stage of the foreclosure process): 0.2%, down from 0.3% in February 2021. This remains the lowest foreclosure rate recorded since at least January 1999.
- Transition Rate (the share of mortgages that transitioned from current to 30 days past due): 0.8%, down from 0.9% in February 2021.
Click here to read the full report at CoreLogic.
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