Serious Delinquency Rate Lowest Since 2020
According to the latest CoreLogic Loan Performance Insights Report, the serious delinquency rate (90 days or more past due) was 3.2% in May, roughly two times that of a year earlier but down from a recent high of 4.3% in August 2020 and down to the lowest rate since the initial jump in serious delinquencies in June 2020. In addition, they report that the nation’s overall delinquency rate was 4.7% in May with all U.S. states and metro areas posting annual decreases in their overall delinquency rates.
“The share of mortgages that were 30 to 59 days past due — considered early-stage delinquencies — was 1.2% in May 2021, down from 3% in May 2020. The share of mortgages 60 to 89 days past due was 0.3% in May 2021, down sharply from a post-pandemic high of 2.8% in May 2020.”