Calm Before the Storm: Delinquency Rates Hit New Lows in February

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Posted To: MND NewsWire

CoreLogic’s Loan Performance Insights Report has shown only incremental changes, primarily declines, in most of its measures of delinquency. The most recent report, covering February, is more of the same, marking the 26 th straight month that delinquency rates have fallen, and most are now at record lows. However, the company says it expects, starting with the March report, that those measures will begin to move higher and that “we could see increases in serious delinquencies as high as four-fold by the second half of 2021.” CoreLogic said the national delinquency rate, mortgages that were 30 days or more past due including those in foreclosure was 3.6 percent in February. This was down 0.4 percentage points from February 2019. With unemployment rates at record highs due to the COVID-19 pandemic…(read more)

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