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Mortgage delinquencies continue to fall

U.S. mortgages delinquencies decline

Nearly three percent of all U.S. mortgages were in some state of delinquency in April, a 1.8 percent year-over-year drop, according to data released Monday.

Early-stage delinquencies – 30 to 59 days past due – stood at 1.2 percent, up from one percent in April 2021, according to CoreLogic in Irvine.

Adverse delinquencies – 60 to 89 days past due – were at 0.3 percent, unchanged from the previous year, while serious delinquencies – 90 days or more past due, including foreclosures – were at 1.4 percent, down from 3.3 percent in April 2021.

The national share of mortgages in some state foreclosure in April was 0.3 percent, unchanged year-over-year.

“The U.S. foreclosure rate edged up in spring 2022 after hitting a historic low at the end of 2021,” said Molly Boesel, CoreLogic’s principal economist, in a statement. “Ongoing strong employment numbers and large amounts of equity should keep foreclosure rates low.”

In the Inland Empire, 30-day delinquencies in April were at 2.8 percent, serious delinquencies 1.3 percent and foreclosures 0.1 percent. Those were year-over-year declines of 2.1 percent in the first two categories and a 0.1 decline in foreclosures, CoreLogic reported.


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