CoreLogic: Mortgage Delinquencies, Foreclosure Rates at Historic Lows
Industry Update
September 1, 2023
Source: Mortgage Orb
For the month of June, 2.6% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 0.3 percentage point decrease compared with 2.9% in June 2022 and unchanged from May 2023.
To gain a complete view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency. In June 2023, the U.S. delinquency and transition rates and their year-over-year changes were as follows:
Early-Stage Delinquencies (30 to 59 days past due): 1.3%, up from 1.2% in June 2022
Adverse Delinquency (60 to 89 days past due): 0.4%, up from 0.3% in June 2022.
Serious Delinquency (90 days or more past due, including loans in foreclosure): 1%, down from 1.3% in June 2022 and a high of 4.3% in August 2020.
Foreclosure Inventory Rate (share of mortgages in some stage of foreclosure): 0.3%, unchanged from June 2022.
Transition Rate (share of mortgages that transitioned from current to 30 days past due): 0.6%, down from 0.7% in June 2022.
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