Delinquency Rates Skewed by Hurricane Stricken States

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Posted To: MND NewsWire

Mortgage delinquency rates continued to fall in October, with the national rate ticking down 0.1 percent and the percentage of non-current loans declining in all but three states. While perennial trouble spots Louisiana, Mississippi, New York, and New Jersey all saw loans that were 30 or more days past due decline by one-half percentage point or more, delinquencies were up year over year in Texas and Florida, the states hardest hit by Hurricanes Harvey and Irma , and in Alaska. CoreLogic reports the national delinquency rate, which was 5.2 percent in October 2016 was down to 5.1 percent a year later. However, the company’s monthly Loan Performance Insights Report indicates that the decrease came exclusively from the pool of serious delinquencies ; early delinquencies increased. The percentage…(read more)

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