Mortgage delinquency rates are at their lowest point since the financial crisis, according to a new mortgage performance trends tool from the Consumer Finance Protection Bureau (CFPB) that tracks delinquency rates nationwide.

In addition to national data, the online tool features interactive charts and graphs with data on mortgage delinquency rates for 50 states and the District of Columbia at the county and metro-area level.

As of March of this year, 1.2 percent of all Massachusetts residential mortgages were 90 or more days delinquent, compared to 1.1 percent nationwide.

“Measuring the number of consumers who have fallen behind on their mortgage payments is a telling barometer of the health of mortgage markets locally and nationally,” CFPB Director Richard Cordray said in a statement. “This rich information source identifies mortgage delinquency rates down to the county and metro-area level, making it a useful public tool.”

The mortgage performance trends tool measures the delinquency rates in two general categories. The first category is comprised of borrowers who are 30 to 89 days behind on their mortgage payments, which generally means they have missed one or two payments. Tracking this rate can detect trends in the increase or decrease in the number of delinquencies, and act as an early warning sign for mortgage market developments that impact the overall economy.

The second category is serious delinquencies, which is made up of borrowers who are more than 90 days overdue. If high, this rate reflects more severe economic distress.

Mortgage delinquency data reflected in the mortgage performance trends tool shows rates of serious delinquency are at their lowest level since the financial crisis. It also shows the states hit hardest by the crisis have steadily recovered.

CFPB Reports Mortgage Delinquencies At Lowest Rate Since Recession

by Banker & Tradesman time to read: 1 min