According to latest monthly U.S. Loan Performance Insights Report, nationally, 4.4 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in March 2017. This represents a 0.8 percentage point decline in the overall delinquency rate compared with March 2016 when it was 5.2 percent.
As of March 2017, the foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was 0.8 percent compared with 1 percent in March 2016. The serious delinquency rate, defined as 90 days or more past due including loans in foreclosure, was 2.1 percent, down from 2.7 percent in March 2016.
Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To comprehensively monitor mortgage performance, CoreLogic examines all stages of delinquency as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next.
Early-stage delinquencies, defined as 30-59 days past due, fell to 1.7 percent in March 2017, down from 1.9 percent in March 2016 and the lowest level since January 2000. The share of mortgages that were 60-89 days past due in March 2017 was 0.59 percent, down slightly from 0.63 percent in March 2016.
