Mortgage Delinquencies Down, Other Consumer Debts Creep Up

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Posted To: MND NewsWire

CoreLogic says mortgage delinquencies in January were the lowest for that month in 20 years . Meanwhile, in a separate report, they note that non-mortgage consumer debt has been edging up, due in part to a deterioration in lending standards. The company’s Loan Performance Insights Report for January puts the national delinquency rate (the percentage of outstanding mortgage loans that were 30 or more days past due including loans in foreclosure) at 4.0 percent, down from 4.9 percent in January 2018. In 2010, at the height of the financial crisis, the January delinquency rate hit a peak of 12.0 percent. This continues a trend that started last March. CoreLogic says that since then the monthly delinquency rate has been lower than the corresponding months during 2000 to 2006, before the start of…(read more)

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