According to the latest CoreLogic Loan Performance Insights Report, in January 2023, 2.8% of mortgages were delinquent by at least 30 days or more including those in foreclosure. This figure represents a 0.5-percentage point decrease in the overall delinquency rate compared with January 2022. 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.
“The share of home loans in delinquency continues to decline, down from a high of 7.3% in the spring of 2020 and down by 0.5 percentage points from January 2022…”
“…Despite the drop in overall delinquencies, the foreclosure rate has slowly crept up. Although it remains near an all-time low, about 30,000 more U.S. homeowners are now involved in the foreclosure process.” Said Molly Boesel, principal economist at CoreLogic. “
Click here to read the full report at CoreLogic.