Mortgage performance continues to improve across the country, with the exception of those states whose economies rely heavily on the energy sector, according to a report released yesterday by CoreLogic, a global property information firm.

The 30-plus delinquency rate, the most comprehensive measure of mortgage performance, is near a 10-year low. In April 2017, 4.8 percent of mortgages were delinquent by at least 30 days or more including those in foreclosure. That’s down 0.5 percent from April 2016, when 5.3 percent of mortgages were 30 or more days delinquent.

In Massachusetts, 4.7 percent of mortgages are 30 days delinquent or more, down 0.6 percent from April 2016, when that number was 5.3 percent.

“Most major indicators of mortgage performance improved in April, showing the market continues to benefit from improved economic growth and home price increases,” Frank Nothaft, chief economist at CoreLogic, said in a statement. “Regionally, with the exception of several energy-intensive states – Alaska and North Dakota – the rest of the U.S.continues to see improvements in mortgage performance. While overall performance is improving, it reflects the older, legacy pipeline of loans that continue to heal, especially in judicial states, which typically take longer to clear out.”

Nationwide foreclosures are also down slightly. In April 2017, 0.7 percent of mortgages were in the foreclosure stage, down 0.3 percent from April 2016, when 1 percent of mortgages were in foreclosure.

Mortgage Performance Continues To Improve Nationwide

by Banker & Tradesman time to read: 1 min