Disasters and Easy Underwriting Didn't Hit Delinquencies; Rates May Have Found Bottom

CoreLogic reports that mortgage delinquency rates were little changed in September. The percentage of mortgage loans that were 30 or more days delinquent and including those in the process of foreclosure declined by 0.6 percentage point on an annual basis, to a national rate of 4.4 percent. Early delinquencies, those 30 to 59 days past due were down from 2.4 percent in September 2017 to 2.2 percent. Other delinquency rates are reflected in the graphic below. Serious delinquencies, those more than 90 days past due or in foreclosure were either down or unchanged in every state. Rates however increased in 10 metro areas. The improvements were despite the considerable disruption along the southern Atlantic Coast caused by Hurricane Florence in September. Seven of the eight metropolitan areas that

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http://www.mortgagenewsdaily.com/reports/newsletter/2018/12/11/3683