In March 2017, 4.4 percent of mortgages were delinquent by at least 30 days or more including those in foreclosure, down 0.8 percent from March 2016, according to a report released from CoreLogic, a property information firm.

As of March 2017, the foreclosure inventory rate was 0.8 percent, down from 1.0 percent in March 2016.

The 30-plus delinquency rate, the most comprehensive measure of mortgage performance, is near a 10-year low. The share of mortgages that transitioned from current to 30-days past due was 0.6 percent in March 2017, down from 0.7 percent in March 2016

“Early-stage mortgage performance continues to improve at a steady pace, especially for 30-59 day delinquencies, which fell to 1.7 percent, the lowest rate for any month since January 2000,” CoreLogic Chief Economist Frank Nothaft said in a statement. “Late-stage and serious delinquency rates continue to decline, falling to their lowest levels since November 2007.”

Every state except Alaska and North Dakota saw decreases in serious delinquency rates.

Mortgage Delinquencies Decline In March

by Banker & Tradesman time to read: 1 min
0