June 14, 2017 Comments Off on Mortgage Delinquencies Drop to a 10-Year Low Views: 537 California News, Top California

Mortgage Delinquencies Drop to a 10-Year Low

CoreLogic’s Loan Performance Insights Report shows that, in California, 2.7% of home mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in March 2017. That figure represents a 0.6 percentage point decline in the overall delinquency rate compared with March 2016 when it was 3.3%.

California’s foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was 0.3% in March 2017 compared with 0.4% in March 2016. The serious delinquency rate, 90 days or more past due, including loans in foreclosure, was 1.0%, down from 1.4% in March 2016.

Overall delinquency rates have also improved across the U.S., falling to 4.4% in March from 5.2% the year before.

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

Read more at CoreLogic

Connect With CoreLogic’s Nothaft

Subscribe to Connect Daily California

For comments, questions or concerns, please contact Dennis Kaiser

Tags: ,

Comments are closed.