Mortgages delinquencies remain low

Three percent of all U.S mortgages were in some stage of delinquency – 30 days or more past due, including foreclosure – in December, according to data released this week.

That was essentially unchanged from November and a 0.4 percent drop from December 2021, Irvine-based Core Logic reported.

Mortgages at least 90 days or more past due were at 1.2 percent, down nearly two percent year-over-year and a high of 4.3 percent in August 2020, when the housing market was feeling the full impact of the pandemic.

Houses in foreclosure in December – registered 0.3 percent, essentially unchanged from exactly one year earlier.

“U.S. mortgage delinquency and foreclosure rates remained consistently low throughout 2022 and closed the year in the same way,” the report states. “December’s three percent delinquency rate and the 0.3 percent foreclosure rate were only slightly higher than numbers recorded over the previous six months.”

In the Inland Empire, 2.9 percent of all mortgages in December were 30 days or more past due, down from 3.2 percent in December 2021.

Serious delinquencies – 90 days or more overdue – were at one percent, down 0.7 percent year-over-year, while December 2022 foreclosures in Riverside and San Bernardino counties – 0.2 percent – were essentially the same year-over-year, CoreLogic reported.