It has been slightly more than a dozen years since the rate of delinquency on single-family loans was as low as it was in the most-recent monthly report.
As of April 2018, thirty-day delinquency on
U.S. mortgages, including loans that are in the foreclosure inventory, worked out to a rate of 4.2 percent.
That turned out to be the lowest level for 30-day delinquency on the nation’s home loans since March 2006, when the rate was previously reported at 4.0 percent.
CoreLogic Inc. provided the
loan performance metrics on Tuesday.
Residential loan delinquency was previously reported at 4.3 percent as of March of this year, while the 30-day rate landed at 4.8 percent in April of last year.
Dr. Frank Nothaft, chief economist for the
Irvine, California-based firm, attributed the improvement to “job growth, home-price appreciation and full-doc underwriting.”
Reflected in the latest rate was a 1.9 percent 90-day rate. Serious mortgage delinquency was no different than a month earlier but was lower than 2.0 percent a year earlier.
Similarly, the foreclosure inventory rate was unchanged from March at 0.6 percent though it was off from 0.7 percent as of a year previous.
