Delinquencies & Foreclosures Remain Near 20-Year Lows in June
According to the latest CoreLogic Loan Performance Insights Report, in June 2022, 2.9% of mortgages were delinquent by at least 30 days or more including those in foreclosure. This figure represents a 1.5-percentage point decrease in the overall delinquency rate compared with June 2021. CoreLogic says measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. Their monthly report coverage at the national, state and Core Based Statistical Area (CBSA)/Metro level and includes transition rates between states of delinquency and separate breakouts for 120+ day delinquency.
“While early-stage delinquencies edged up in June, they remained near historic lows through the first half of 2022. Later-stage delinquencies fell by 60% from June 2021, with only a small increase in foreclosures, indicating that delinquent borrowers are able to find alternatives to foreclosure.” – Molly Boesel Principal Economist for CoreLogic
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