CoreLogic Reports U.S. Overall Delinquency Rate Lowest for a July in at Least 20 Years but Four States Post Annual Gains - Seite 2

The nation's overall delinquency remains near the lowest level since at least 1999. However, four states posted small annual increases in overall delinquency rates in July: Vermont (0.5 percentage points), New Hampshire (0.2 percentage points), Iowa (0.1 percentage points) and Minnesota (0.1 percentage points).

Five states, including three of the four listed above, posted small annual gains in the share of mortgages that transitioned from current-to-30-days past due in July: Vermont (0.3 percentage points), New Hampshire (0.1 percentage points), Iowa (0.1 percentage points), Wisconsin (0.1 percentage points) and Florida (0.1 percentage points).

In July 2019, 37 metropolitan areas recorded small increases in overall delinquency rates. Some of the highest gains were in the Midwest and Southeast. Metros with the largest increases were Dubuque, Iowa (2.5 percentage points), Davenport-Moline-Rock Island, Iowa-Illinois (1.5 percentage points) and Pine Bluff, Arkansas (1.1 percentage points). Panama City, Florida, and Goldsboro, North Carolina, both experienced increases of 0.5 percentage points.

“The fundamentals of the housing market remain very solid with foreclosure rates hitting lows not seen in over 20 years,” said Frank Martell, president and CEO of CoreLogic. “We expect foreclosure rates may very well drift even lower in the months ahead as wage growth and lower mortgage rates provide support for homeownership.”

The next CoreLogic Loan Performance Insights Report will be released on November 12, 2019, featuring data for August 2019.

For ongoing housing trends and data, visit the CoreLogic Insights Blog: www.corelogic.com/insights.

Methodology

The data in this report represents foreclosure and delinquency activity reported through July 2019.

The data in this report accounts for only first liens against a property and does not include secondary liens. The delinquency, transition and foreclosure rates are measured only against homes that have an outstanding mortgage. Homes without mortgage liens are not typically subject to foreclosure and are, therefore, excluded from the analysis. Approximately one-third of homes nationally are owned outright and do not have a mortgage. CoreLogic has approximately 85% coverage of U.S. foreclosure data.