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The Big Finish
Wrap your head
around the market's
leading indicators.
NATIONAL MORTGAGE
DELINQUENCY RATE DROPS
CoreLogic's Loan Performance Insights Report for August 2021 found that just 4% of all mortgages nationwide were in some
stage of delinquency (30 days or more past due, including those in foreclosure), a 2.6-percentage point decrease in delinquency
compared year-over-year, when the delinquency rate stood at 6.6%.
"e unprecedented fiscal and monetary stimuli that have been implemented to combat the pandemic are pushing housing
prices and home equity to record levels," said Frank Martell, President and CEO of CoreLogic. "is phenomenon is driving down
delinquencies and fueling a boom in cash-out refinancing transactions."
"e decline in the overall delinquency rate to its lowest since the onset of the pandemic is good news, but it masks the serious
financial challenges that some of the borrower population has experienced," said Dr. Frank Nothaft, Chief Economist at CoreLogic.
"In the months prior to the pandemic, only one-in-five delinquent loans had missed six or more payments. is August, one-in-
two borrowers with missed payments were behind six-or-more monthly installments, even though the overall delinquency rate had
declined to the lowest level since March 2020."
EARLY-STAGE
DELINQUENCIES (30 TO
59 DAYS PAST DUE):
ADVERSE DELINQUENCY
(60 TO 89 DAYS PAST
DUE):
SERIOUS DELINQUENCY
(90 DAYS OR MORE PAST
DUE, INCLUDING LOANS
IN FORECLOSURE):
FORECLOSURE
INVENTORY RATE (THE
SHARE OF MORTGAGES
IN SOME STAGE OF THE
FORECLOSURE PROCESS):
TRANSITION RATE (THE
SHARE OF MORTGAGES
THAT TRANSITIONED
FROM CURRENT TO 30
DAYS PAST DUE):
SOURCE: ATTOM DATA SOLUTIONS, REALTYTRAC ANALYSIS
1%
(DOWN FROM 1.5% IN
AUGUST 2020)
3%
(DOWN FROM 0.8%
IN AUGUST 2020)
6%
(DOWN FROM 4.3%
IN AUGUST 2020)
2%
(DOWN FROM 0.3%
IN AUGUST 2020)
6%
(DOWN FROM 0.9%
IN AUGUST 2020)
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