Delinquency Rates Down Overall, but Larger Cities Feel More Pressure

While the nations delinquency rate declined in March, to 4.0 percent from 4.3 percent a year earlier, CoreLogic notes that 21 states and 166 of the largest metropolitan areas experienced small increases in delinquencies on an annual basis. The delinquency rate includes all home loans that are 30 days or more past due, including those in foreclosure. The share of mortgages that were 30 to 59 days past due - considered early-stage delinquencies - was 2% in March 2019, up from 1.8% in March 2018. The March numbers continue a year-long trend i n which the overall delinquency rate each month has been lower than during the 4.7 percent average during the pre-crisis period of 2000 through 2006. Delinquencies tend to be seasonal, and the highest March rate was in 2010 at 11.1 percent. Other measures...(read more)

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