Five Percent of Homeowners Are Behind on Their Mortgage Payments

May 09, 2017

A total of 4.1 percent of mortgages were in some stage of delinquency during December 2018, according to data from CoreLogic

Five percent of mortgages were delinquent by 30 days or more during February, according to new data from CoreLogic. This represents a 0.5 percent drop from the 5.5 percent overall delinquency rate in February 2016.

As of February, the foreclosure inventory rate was 0.8 percent, down from 1.1 percent one year earlier, while the serious delinquency rate—defined as 90 days or more past due including loans in foreclosure—was 2.2 percent, down from 2.8 percent in February 2016. However, early-stage delinquencies, defined as 30-59 days past due, were at 2.14 percent in February, up from 2.08 percent one year before. And the share of mortgages that transitioned from current to 30-days past due was one percent in February, up from 0.8 percent in February 2016.

"While national-level delinquency rates declined, the serious delinquency rate remained elevated in many mid-Atlantic and northeast states led by New York and New Jersey," said Frank Martell, president and CEO of CoreLogic. "February-to-February increases in both 30-day-or-more delinquency rates and in serious delinquency rates were also observed in Alaska, Louisiana and Wyoming relating to the impact of the downturn in the global oil market."

About the author

Phil Hall

Link copied

Published

May 09, 2017

Analysis and Data

Late Pays Rising for Student, Auto Loans

More of those with strong credit records have gone delinquent

Delinquencies are building across two major food groups — student loans and automobile financing — the feed credit scores and are sure to impact the ability of would-be home buyers to obtain a mortgage. The Education Department hasn’t updated its official student loan rep...

Analysis and Data

Buyers Faced Bigger Down Payments in 2024

Buyers paid an average of 14.4% of the purchase price, up from 14.2% in 2023

Down payments reached record highs in 2024, both in dollar amounts and as a share of purchase price, according to a new report from Realtor.com. The typical down payment in Q4 was $30,250, slightly below Q3 but about $3,000 higher than a year earlier. "As inventory recove...