US Serious Delinquency Rate Drops to All-Time Low in August
October 26, 2023
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for August 2023.
In August 2023, 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 0.2 percentage point decrease compared with 2.8% in August 2022 and a 0.1 percentage point decrease from July 2023.
To gain a complete view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency. In August 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 August 2022.
- Adverse Delinquency (60 to 89 days past due): 0.4%, up from 0.3% in August 2022.
- Serious Delinquency (90 days or more past due, including loans in foreclosure): 0.9%, down from 1.2% in August 2022 and a high of 4.3% in August 2020.
- Foreclosure Inventory Rate (the share of mortgages in some stage of the foreclosure process): 0.3%, unchanged from August 2022.
- Transition Rate (the share of mortgages that transitioned from current to 30 days past due): 0.6%, unchanged from August 2022.
For full report, please click the source link above.