May 17, 2019
CoreLogic’s February 2019 report about home mortgage and delinquencies showed good news for Texas. Namely, the Lone Star State’s serious delinquency rates and foreclosure rates continued their decline, year over year. Nationwide, the report showed that nationally, 4% of mortgages were in some state of delinquencies, defined as 30 days or more past due.
Ralph McLaughlin, CoreLogic Chief Economist, indicated that the reason for the fall is due to a “persistently impressive economic expansion.” He added that, “with unemployment at a 50-year low, wage growth nearing double inflation and a positive demographic structure that will drive housing demand upwards, the future of U.S. housing and mortgage markets look bright, even if short-term indicators suggest cooling.”
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