30 Days Or More Delinquent Loans Decrease Nationally
The latest CoreLogic Loan Performance Insight revealed that loans with 30 days or more delinquency have decreased nationally from June 2018 to June 2019.
The overall delinquency rate has declined by 0.3% and CoreLogic's experts believe the strengthened economy has attributed to the decline in delinquencies.
"A strong economy and eight-plus years of home price growth have made mortgage foreclosure an infrequent event," according to Dr. Frank Nothaft, Chief Economist for CoreLogic.
"This backdrop will help the mortgage market limit delinquencies in most of the country whenever a downturn should start."
Delinquency rates did increase in some states including Vermont, New Hampshire, Nebraska and Minnesota, none of which were tied to natural disaster, according to the report.
Minnesota, Nebraska, North Dakota and Virginia, were the only states that saw no change in serious delinquency, while the rest of the country saw decreases.
To learn more about the latest mortgage loan delinquency numbers from CoreLogic, click on the image above.
