The Smart Team of NOVA® Home Loans

Important Mortgage Performance Metric Best in 10 Years

Posted To: MND NewsWire

Early state mortgage delinquencies are an important measure of mortgage market health, and CoreLogic reports they are continuing to decline . In January, the company found 5.3 percent of mortgaged homeowners were 30 days or more behind in their payments, down by 1.1 percentage points from the delinquency rate in January 2016. Serious delinquencies, loans 90 or more days past due or in foreclosure, were at a 2.5 percent rate, down from 3.2 percent a year earlier. Broken down to more discrete intervals, CoreLogic says early-stage delinquencies, defined as 30-59 days past due, were trending lower in January 2017 at 2.1 percent compared with 2.4 percent in January 2016. The share of mortgages that were 60-89 days past due in January 2017 was 0.7 percent, down from 0.8 percent in January 2016. Alaska…(read more)

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Source: Mortgage News Daily

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