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U.S. mortgages, foreclosures stay low

Two point nine percent of all U.S. mortgages were in some stage of delinquency in November, a near-record low, according to data released this week.

That was a decline of 0.7 percent from November 2021, when 3.6 percent of U.S. mortgages were 30 days or more past due, including delinquencies, Irvine-based CoreLogic reported.

November delinquencies, and their year-over-year changes, were:

  • 30 to 59 days past overdue: 1.4 percent up from 1.2 percent.
  • 60 to 89 days overdue: 0.4 percent up from 0.3 percent.
  • 90 days or more overdue: 1.2 percent, down from two percent.
  • Foreclosures: 0.3 percent, up from 0.2 percent in November 2021.

“Most homeowners are well positioned to weather a shallow recession,” said Molly Boesel, principal economist at CoreLogic, in a statement. “More than a decade of home price increases has given homeowners record amounts of equity, which protects them from foreclosure.”

In the Inland Empire, overall delinquencies stood at 2.8 percent in November, down 0.6 percent, while the foreclosures – 0.2 percent – were virtually unchanged year-over-year, CoreLogic reported.

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