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Mortgage delinquency rates continue to decline

Two point seven percent of all of all U.S. mortgages were in some state of delinquency – 30 days or more past due, including foreclosures – in March, according to a recent report.

That was a 2.2 percent decrease – from 4.9 percent – in March 2021, Irvine-based CoreLogic reported.

Early-stage delinquencies – 30 to 59 days past due – were unchanged year-over-year, at one percent.  Adverse delinquencies – 60 to 89 day past due – were 0.3 percent, essentially remained the same from one year earlier.

Only 1.4 percent of all mortgages nationwide were 90 days or more past due, down 3.5 percent year-over-year and down from a high of 4.3 percent in August 2020.

Properties in some state of foreclosure were at 0.2 percent, down from 0.3 percent one year earlier. That was the lowest national foreclosure rate since at least January 1999.

In the Inland Empire, 2.7 percent of all mortgages were 30 days or more past due, a year-over-year drop of 2.4 percent. Serious delinquencies fell 2.3 percent, to 1.3 percent and the foreclosure rate was 0.1, down slightly from March 2021, CoreLogic reported.

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