Skip to main content

Fewer Homeowners Are Delinquent on Mortgages

Phil Hall
Apr 11, 2017
The serious delinquency rate for mortgage loans declined from 1.67 percent in the first quarter to 1.37 percent at the end of the second quarter, according to new data from TransUnion

It appears that more people are paying their mortgages on time. According to new data from CoreLogic, 5.3 percent of homeowners were delinquent by at least 30 days or more (including those in foreclosure) on their mortgages in January, a 1.1 percent year-over-year decline from the 6.4 percent level set in January 2016.
 
The foreclosure inventory rate was 0.8 percent in January, down slightly from the 1.1 percent rate in January 2016, while the serious delinquency rate—defined as 90 days or more past due including loans in foreclosure—was 2.5 percent, down from 3.2 percent one year earlier. Also on the decline were early-stage delinquencies, defined as 30-59 days past due: that rate measured at 2.1 percent in January, below the 2.4 percent level of January 2016. The share of mortgages that were 60-89 days past due in January was 0.7 percent, a scant dip from 0.8 percent one year earlier.
 
“The 30-plus delinquency rate, the most comprehensive measure of mortgage performance, is at a 10-year low and rapidly declining,” said Frank Martell, president and CEO of CoreLogic. “While late-stage delinquencies remain in the pipeline in selected markets, early-stage delinquency performance is stellar and the lowest it’s been in two decades. The continued improvement in mortgage performance bodes well for the health of the market in 2017.”

 
Published
Apr 11, 2017
Federal Regulators Race To Address Cryptocurrency Risks

Cryptocurrency is quickly morphing into a volatile but widely embraced innovation, and federal regulators are racing to address the potential risks to consumers and the market. 

Industry News
Sep 24, 2021
MBA Initiative Seeks To Close Racial Homeownership Gap

Says its advocacy, partnerships & connections will help increase opportunities for minority borrowers

Industry News
Sep 24, 2021
Guaranteed Rate Opens New Branch In Southwestern Michigan

Guaranteed Rate expanded its presence in Southwester Michigan, after opening a new branch in St. Joseph

Industry News
Sep 22, 2021
Chinese Property Giant Evergrande Falters, Threatening U.S. Investors

On Monday, investors across three continents dumped their stocks, mainly out of fear that the world’s two largest governments — the United States and China — would undercut the beginnings of a global economic recovery. 

Industry News
Sep 22, 2021
Compass Mortgage Expands In Four Additional States

Compass Mortgage is now licensed in Virginia, Washington, North Carolina and South Carolina.

Industry News
Sep 22, 2021
Enact Holdings Completes IPO

Genworth Financial Inc. announced the completion of the initial public offering for its subsidiary Enact Holdings Inc.

Industry News
Sep 21, 2021