Mortgage delinquencies decline

Four-point seven percent of all U.S. mortgages were in some stage of delinquency – at least 30 days past due – in May, according to data released today.

That was a 2.6 percent decline compared with May 2020, when the national delinquency rate was 7.3 percent, Irvine-based CoreLogic reported.

Early-stage delinquencies – 30 to 59 days past due – were 1.2 percent,  down from three percent year-over-year. Adverse delinquencies – 60 to 89 past due – were 0.3 percent, down from 2.8 percent, while serious delinquencies  – 90 days or more past due – were 3.2 percent, up from 1.5 percent.

Despite the increase, that was the lowest rate of serious delinquencies since June 2020.

The national foreclosure rate was 0.3 percent, unchanged from May 2020. All of the previous figures include foreclosures.