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Serious delinquency rate on home mortgages was the lowest in more than 12 years, according to a recent report. CoreLogic’s TrueStandings data revealed that mortgage rates have been pushed down by recent strong underwriting as well as family-income and home-price growth.
In this Video Spotlight, CoreLogic Chief Economist Frank Nothaft discusses the lower serious mortgage delinquency rates and more. According to Nothaft, the 90-day delinquency rate on consumer credit has moved up during the last two years and was almost two percentage points higher than 12 years ago.
Nothaft also discusses how higher delinquency rates on consumer credit across mortgages as well as student loans and more could slow consumption spending and effect home buying in the coming year, slowing economic growth and putting lender portfolios at risk.
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