Real Estate News

CoreLogic confirms low delinquency rate for mortgage payments

Published: 12 Apr 2017

With two months to analyze the data, it's possible to appreciate the homeowner and mortgage statistics of January more fully. CoreLogic now has details on the delinquency payments for mortgages as of the end of the first month of the year. A release on these findings implied that two-thirds of homes in the country have a mortgage attached to them.

The company compared various statistics from this January with the same period seen a year earlier. Although some of the delinquencies seen during this time only decreased by a small amount, there was still a notable decline seen in different brackets.

Even the range with the highest number of possible days past due for mortgage payment, with a maximum of 89 days, saw a decrease from .8 percent last January to .7 percent in 2017. Those that were just 30-59 days overdue had dropped by .3 percent from month to month. Foreclosure inventory rates also dropped .3 percentage points.

The early-stage mortgage delinquency rates seemed to be the most notable, according to CoreLogic CEO and President Frank Martell. He said that this pointed to possible future improvements.

"While late-stage delinquencies remain in the pipeline in selected markets, early-stage delinquency performance is stellar and the lowest it's been in two decades," Martell said. "The continued improvement in mortgage performance bodes well for the health of the market in 2017."

NerdWallet reported on the trend of mortgage rates as revealed in a recent data survey. According to these results, the highest rates of the year so far for 5/1 Adjustable Rate Mortgages, 15-year and 30-year fixed mortgages were all in March. Of these, the highest belonged to the last group, which saw rates of 4.4 percent before sliding down to 4.2 the next month.