Friday , 24 November 2017

Delinquencies Signal "Final Stages" of Recovery

By Jann Swanson

Posted To: MND NewsWire

To no one’s surprise, measures of mortgage distress , including delinquencies, serious delinquencies, and foreclosures, were down again in August , with many metrics falling into fractional percentage territory. According to CoreLogic’s Loan Performance Report for the month, the overall delinquency rate, mortgages 30 or more days past due, fell 0.6 percentage points from August 2016, to 4.6 percent. Within that number, the earliest delinquencies, those that have missed one payment, represented 2.0 percent of all mortgaged homes, down from 2.1 percent year-over-year, and the share of loans 60 to 89 days past due was unchanged at 0.7 percent. The serious delinquency rate , loans more than 90 days past due, was 1.9 percent, an 0.5 percent decline year-over-year. It was the lowest incidence of…(read more)

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