Report: U.S. mortgages are strong

Two point eight percent of all U.S. mortgages were in some stage of delinquency in April, according to data released this week.

That figure, which includes foreclosures, is essentially unchanged from exactly one year earlier, Irvine-based CoreLogic reported.

“U.S. loan performance remains resilient, with delinquencies and foreclosures continuing to hover near record lows.

Mortgages 30 to 59 days past due were at 1.4 percent, up from 1.2 year-over-year, while those 60 to 80 days past their payment date stood at 0.4 percent an increase of 0.1 percent.

Serious delinquencies – 90 days or more past due, including foreclosures – dropped from 1.4 percent in April 2022 to 1.1 percent in April of this year.  Only 0.3 percent of all U.S. homes were being foreclosed on in April, unchanged year-over-year.

In the Inland Empire, 2.9 percent of all mortgages in April were 30 to 59 days overdue, a slight year-over-year increase, while 0.9 percent were more than 90 days overdue, a year-over-year decline of four-tenths of a percentage point.

Foreclosures in Riverside and San Bernardino counties in April were at 0.2 percent, essentially unchanged from one year earlier, CoreLogic reported.

Mortgage performance remained strong in April, with overall delinquencies at minimal levels and serious delinquencies at a 23-year low,” said Molly Boesel, CoreLogic’s principal economist, in the statement. “However, there is concern that mortgages originated in a rising-interest-rate environment may have higher instances of delinquencies, as borrowers become stretched financially.”