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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 66 J O U R N A L August 2023 (share of mortgaged homes that were serious- ly underwater down from 6.4% in Q1 of 2023 to 4.8% in Q2 of 2023), Illinois (down from 6.4% to 5.1%), South Dakota (down from 4.8% to 4%), Kansas (down from 3.7% to 3%), and Ohio (down from 5% to 4.3%). States where the percentage of seriously underwater homes increased the most from the first to the second quarter of this year were led by Indiana (up from 3.3% to 8.1%), Hawaii (up from 2% to 3.6%), Maine (up from 2.5% to 2.7%), Mississippi (up from 5.6% to 5.8%), and Utah (up from 1.7% to 1.9%). The West continued to have the highest levels of equity-rich mortgaged properties, with six of the top 10 states in the second quarter of 2023. Those with the highest portions where mortgaged homes were equity-rich: » Vermont (77.5%) » California (63.3%) » Montana (60.9%) » Florida (60.4%) » Idaho (59.4%) Nine of the 10 states with the lowest percentages of equity-rich properties in Q2 of 2023 were in the Midwest and South. The smallest portions were in: » Louisiana (23%) » Alaska (29.2) » Illinois (29.5%) » West Virginia (30%) » North Dakota (31.3%) All but one of the top 20 were in those re- gions during Q2 of 2023, led by San Jose (76.3%); Los Angeles (69.3%); San Francisco (69%); San Diego (68.8%); and Sarasota-Bradenton, Florida (66.6%). The leader in the Northeast region again was Portland, Maine (60.7%), while the top metro in the Midwest continued to be Grand Rapids, Michigan (54.7%). The 10 metro areas with the lowest percentages of equity-rich properties in Q2 of 2023 were again in the Midwest and South. The smallest levels were in Baton Rouge, Louisiana (19.3%); Jackson, Missis- sippi (26.6%); Little Rock, Arkansas (29.2%); Virginia Beach, Virginia (29.7%); and New Orleans (31.7%). Among 1,712 counties that had at least 2,500 homes with mortgages in Q2 of 2023, 14 of the top 20 equity-rich locations were found in the Northeast and West regions. Coun- ties with the highest share of equity-rich properties were Chittenden County, Vermont (85.6%); Nantucket County, Massachusetts (83.7%); Dukes County, Massachusetts (82.7%); Manistee County, Michigan (80.6%); and Washington County, Vermont (79%). Counties with the smallest share of equity-rich homes in Q2 of 2023 were Vernon Parish (Leesville), Louisiana (8.2%); Lea County (Lovington), New Mexico (10.1%); Be- auregard Parish, Louisiana (10.7%); Iberville Parish, Louisiana (12.4%); and Geary County, Kansas (13.7%). "Lots of changing forces are at work af- fecting whether boom times are really back, especially amid a recent increase in mortgage rates," Barber said. "But with the 2023 peak buying season still underway, it seems that homeowners can reasonably expect their household balance sheets to grow a bit more in the near future." THESE STATES TOPPED OVERALL MORTGAGE DELINQUENCY RATES AS NATIONAL RATE DECLINES C oreLogic's Loan Performance Insights Report found that, for the month of May 2023, 2.6% of all mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 0.1 percentage point decrease, compared to 2.7% in May 2022, and a 0.2 percentage point decrease compared with 2.8% in April 2023.