CoreLogic, Irvine, Calif., said its year-end Loan Performance Insights Report showed overall mortgage delinquency rates fell for the fourth straight month in December, ending a volatile year with signs of recovery.
Ahead of this Thursday’s 4th Quarter National Delinquency Report from the Mortgage Bankers Association, CoreLogic, Irvine, Calif., said new November mortgage delinquencies fell below pre-pandemic levels and, while serious delinquencies fell to their lowest levels since June.
CoreLogic, Irvine, Calif., said on a national level, 6.1% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in October, a 2.4-percentage point increase from a year ago, when it was 3.7%.
CoreLogic, Irvine, Calif., said its monthly Loan Performance Insights Report for September showed a leveling off of serious loan delinquencies, a “positive signal” that the housing finance industry is thus far adjusting to the pandemic-induced economic downturn.
Ahead of this morning’s quarterly National Delinquency Survey from the Mortgage Bankers Association, CoreLogic, Irvine, Calif., said the 150-day delinquency rate reached its highest level since January 1999, noting that forbearance provisions have helped foreclosure rates maintain historic lows.