Saturday , June 22 2024
Mortgage Charts

U.S. foreclosures up slightly

An estimated 5.6 percent of all U.S. mortgages were in delinquency – at least 30 days past due – in January, according to data released last week.

That was a year-over-year increase of 2.1 percent, although month-by-month delinquency rates have been dropping since August, Irvine-based Core Logic reported in its monthly analysis of the U.S. loan market.

Early-stage delinquencies – 30 to 59 days past due – were at 1.3 percent during the first month of the year, down from 1.7 percent in January 2020. Delinquencies 60 to 89 days past due – were at .05 percent, essentially unchanged from one year earlier.

Serious delinquencies – 90 days or more past due – were at 3.8 percent, up from 1.2 percent in January 2020.

All of the above figures include foreclosures. The national foreclosure rate in January was 0.3 percent, down from 0.4 percent one year earlier.

“While delinquency rates are higher than we would like to see, they continue to decline,” said Frank Martell, CoreLogic’s president and chief executive officer, in the report. “At the same time, foreclosure rates remain at historic lows. This is a good sign, and considering the improving picture regarding the pandemic and climbing employment rates, we are looking at the potential for a strong year of recovery.”

In the Inland Empire, early delinquencies stood at 5.9 percent in January, up from 3.4 percent in January 2020. Serious delinquencies were at 3.9, up nearly three points year-over-year.

The Inland foreclosure rate was 0.2 percent, essentially unchanged year-over-year, according to CoreLogic.

Check Also

Progressive to handle next round of leasing at Chino shopping center

Progressive Real Estate Partners in Rancho Cucamonga will market Chino Hills Marketplace, the regional shopping …

Leave a Reply

Your email address will not be published. Required fields are marked *