IE Business Daily Business news for the Inland Empire.
Five point eight percent of all U.S. mortgages were in some state of delinquency in December, a 2.1 percent year-over-year increase, according to data released last week.
Early-stage delinquencies – 30 to 59 days past due – were at 1.4 percent, down from 1.8 percent in December 2019, while mortgages 60 to 89 days past due registered 0.5 percent, essentially unchanged from exactly one year earlier, Irvine-based CoreLogic reported.
Serious delinquencies – 90 days or more past due – were at 3.9 percent, up 1.2 percent year-over-year.
Each category includes foreclosures. The national foreclosure rate was 0.3 percent, virtually unchanged from December 2019.
The Inland Empire’s overall foreclosure rate in December was 0.2 percent, essentially the same as one year earlier, CoreLogic reported.
“Places with large job losses during the last year also experienced big jumps in mortgage delinquencies,” said Frank Nothaft, chief economist at CoreLogic, in the statement. “By state, Hawaii and Nevada had the largest 12-month spike in delinquency rates, both up 4.1 percentage points. They also had large increases in unemployment rates, up 6.6 percentage points in Hawaii and 5.5 percentage points in Nevada.”
