CoreLogic Loan Insights Report report focuses on U.S. mortgage performance trends. The data gathered is based on mortgage performance health, stages of delinquency as well as transition rates from one stage of delinquency to the next.
In its previous report, released on December 2018, CoreLogic revealed an upward spike in serious delinquency rates in disaster-affected areas. Frank Nothaft, Chief Economist at CoreLogic pointed out to a sharp rise in the 30- or 60-day delinquency rate by 19 percent in the Redding metro area between August to September—recording the largest monthly rise in the metric since 2006, the period that marked the beginning of foreclosure crisis.
With the exception of disaster-affected areas, the report found that U.S. serious delinquency and foreclosure rates were the lowest for September in 12 years. It also reflected a steady drop in the past due rate on an annual basis, for the past nine months consecutively. Nationally, 4.4 percent of mortgages were in some stage of delinquency, recording a decline in the overall delinquency rate at 0.6 percentage, compared to 5 percent last year.
“Outside of the areas affected by natural disasters, serious delinquency, and foreclosure rates have declined steadily across the nation as the labor market has improved and home prices have risen," said Frank Martell, President, and CEO of CoreLogic.
CoreLogic will release its latest Loan Insights Report on Tuesday, 9 a.m. EST
Here’s what else is coming in The Week Ahead:
- AEI National Housing Market Indicators, Monday, 11 a.m. EST
- MBA Apps, Wednesday, 9 a.m. EST
- FOMC Minutes, Wednesday, 2 p.m. EST
- Fed Balance Sheet, Thursday, 4:30 p.m. EST
- Freddie Mac Primary Mortgage Market Index, Thursday, 9 a.m. EST