CoreLogic Reports U.S. Overall Delinquency Rate Lowest for a December in at Least 20 Years - Seite 2

No states posted a year-over-year increase in the overall delinquency rate in December. The states that logged the largest annual decreases included North Carolina and Mississippi (both down 0.8 percentage points). South Carolina (down 0.7 percentage points) experienced the third-largest annual decrease, followed by Louisiana, New York and Tennessee (all down 0.6 percentage points).

Thirteen metropolitan areas recorded small annual increases in overall delinquency rates. The largest annual increases were in Janesville-Beloit, Wisconsin (up 1.9 percentage points); Enid, Oklahoma (up 0.6 percentage points) and Pine Bluff, Arkansas (up 0.6 percentage points). The other 10 metro areas experienced increases between 0.1 and 0.2 percentage points.

While the nation’s serious delinquency rate reached a near 20-year low in December, 16 metro areas recorded at least a small annual increase. Enid, Oklahoma logged the largest increase (up 0.4 percentage points), followed by Pine Bluff, Arkansas (up 0.3 percentage points); Dubuque, Iowa (up 0.2 percentage points) and St. Joseph, Missouri-Kansas (up 0.2 percentage points). The other 12 metro areas logged increases of 0.1 percentage points.

“The mortgage market had another solid year in 2019, and loan performance across the country continues to show improvement,” said Frank Martell, president and CEO of CoreLogic. “The longest economic expansion in history helped serious delinquency rates reach a 20-year low. As mortgage rates continue to fall in the wake of recent global events, we may see homeowners refinance into lower-monthly payments, or into shorter-term mortgages, which can further reduce delinquency and foreclosure risk.”

The next CoreLogic Loan Performance Insights Report will be released on April 14, 2020, featuring data for January 2020.

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 December 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.