IE Business Daily Business news for the Inland Empire.
An estimated 6.6 percent of all U.S mortgages were in some state of delinquency in August, according to a recent report.
That was nearly a three percent year-over-year increase in the number of residential units that were at least 30 days past due, Irvine-based CoreLogic reported in its monthly Loan Performance Insight Report.
Early-stage delinquencies – 30 to 59 days past due – were at 1.6 percent, a slight drop from August 2019.
Adverse delinquencies, defined as 60 to 89 days past due, stood at 0.8 percent, a slight increase year-over-year.
By far the biggest wave was made in serious delinquencies, defined as any mortgage 90 days or more past due: that figure was 4.3 percent, up from 1.3 percent year-over-year and the highest nationwide serious delinquency rate recorded since February 2014.
August’s foreclosure inventory rate was 0.3 percent, essentially unchanged from exactly one year earlier.
In the Inland Empire, 30-day delinquencies were at 7.3 percent, an increase of 3.7 percent, while serious delinquencies were at 4.6 percent, a 3.6 percent year-over-year increase. The two-county region’s foreclosure rate was 0.2 percent, virtually the same as it was exactly one year earlier.
CoreLogic’s delinquency categories include foreclosures.
