CoreLogic: Delinquency Rates Hit A Near Two-Decade Low In February 2019
The latest CoreLogic Loan Performance Insights measuring statistics through February is showing great progress in the loan delinquency rate. According to the report, foreclosures and delinquencies have hit lows that haven't been seen in almost two decades.
The delinquency rate for loans that were 30 days or over due was at 4% in February and 4.8% of mortgages were delinquent by at least 30 days or more, according to CoreLogic's LPI.
"We are on track to test generational lows as delinquency rates hit their lowest point in almost two decades," said Frank Martell, president and CEO of CoreLogic.
"Given the economic outlook, we are likely to see more declines over the balance of this year. Reflective of the drop in delinquency rates, no state experienced a year-over-year increase in its foreclosure inventory rate so far in 2019."
With better overall numbers for the delinquency rate across the country, CoreLogic believes that it is a sign of a healthier U.S. housing market for the remainder of 2019.
To learn more about the recent decline in loan delinquency rates and more, click on the image above.