Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Nationwide delinquency rates hit 20-year low: CoreLogic

04/09/2019

Download PDF

The number of homeowners failing to make mortgage payments hit a 20-year low in January while student and car loan delinquency rates continue to rise, according to new data from property analytics provider CoreLogic, released Tuesday.

Across the country, only 4 percent of homeowners fell behind on their mortgage payments in January, down from 4.9 percent during the same period last year and 4.1 percent last month, according to CoreLogic data. The home delinquency rate for January has not been this low since 1999.

Courtesy of CoreLogic

Foreclosures, in which property is seized due to a homeowner’s inability to pay, have also fallen steadily, from 0.6 percent in January 2018 to 0.4 percent now. But while delinquency and foreclosure rates have been falling since the beginning of 2018, parts of the country hit by natural disasters have higher delinquency and foreclosure rates.

The number of people struggling to make car and student loan payments are on the rise.

“The low delinquency rates on home mortgages are a contrast to the rising delinquency rates on consumer credit,” said Dr. Frank Nothaft, chief economist for CoreLogic, in a prepared statement. “While home mortgage delinquency rates are at, or are near, their lowest levels in two decades, delinquency rates for auto and student loans are higher now than they were during the early and mid-2000s.”

What kind of leader are you? A look at leaders on leadership and what you need to know READ MORE

Courtesy of CoreLogic

What’s more, it has become increasingly difficult for first-time homebuyers to make the leap from renting to owning. As home values rise and incomes fail to keep up, some are putting off a first-time purchase as they wait for a change that experts predict will be slow in coming.

But when it comes to to those who already own their home, more good news is on the horizon. CoreLogic predicts that, as the spring homebuying season picks up, even fewer people will struggle with their mortgage payments.

“As the economic expansion continues to create jobs and low mortgage rates support home buying this spring, delinquency rates are likely to trend lower during the coming year,” said CoreLogic President Frank Martell in a statement. “The decline in delinquency rates has occurred in nearly all parts of the nation.”

Email Veronika Bondarenko

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter July 24, 2023

    Mortgage rates continued to press downward last week after the previous week's CPI data pointed to e...

  • Mission Chronicle Newsletter Feb 20, 2023

    Despite the recent downward trend in mortgage rates and hopes that the Fed was nearing the end of it...

  • Mission Chronicle Newsletter Feb 6, 2023

    The Federal Reserve meeting ended as market participants expected, with a quarter-point increase and...

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

March 2024
Mon Tue Wed Thu Fri Sat Sun
 123
45678910
11121314151617
18192021222324
25262728293031

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...