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CoreLogic Says Mortgage Delinquencies Continue to Fall

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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