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U.S. mortgage delinquencies drop

Three point eight percent of all U.S. mortgages were in some state of delinquency in October, a year-over-year decrease of 2.3 percent, according to data released Monday.

Early delinquencies – 30 to 59 days past due – were down 1.2 percent, while adverse delinquencies – 60 to 89 days due – were essentially unchanged from October 2020, Irvine-based CoreLogic reported.

Serious delinquencies – 90 days or more past due – were at 2.2 percent, down from 4.1 percent exactly one year earlier.

All of the above figures include foreclosures. The national foreclosure rate was 0.2 percent, virtually unchanged year-over-year.

“Improving economic security and the benefits of disciplined underwriting practices over the past decade is helping reduce or avoid mortgage delinquencies,” said Frank Martell.

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