Posted To: MND NewsWire

While the rate of non-current loans remained sharply higher than a year ago, CoreLogic reports that serious delinquencies , loans more than 89 days past due, began to level off in September for the first time since the start of the pandemic. The company’s Loan Performance Report puts the national delinquency rate, loans 30 or more days past due including those in foreclosure, at 6.3 percent. This is 2.5 points higher than the 3.8 percent rate in September 2019. Loans in the earliest stage of distress, 30 to 59 days past due, accounted for 1.5 percent of active mortgages, down from 1.9 percent in September 2019 and 4.2 percent in April when early stage delinquencies spiked due to the COVID-19 pandemic. The rate for loans 60 to 89 days delinquent is 0.1 percentage point higher than a year earlier…(read more)

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Source: Mortgage News Daily