MBS: Nation’s overall delinquency rate hits a 20-year low
admin | January 16, 2020
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Mortgage delinquency rates, a harbinger for the health of the mortgage market, remained at near-record lows across states, according to CoreLogic’s latest Loan Performance Insight Report. All states reported that the overall delinquency rate either dropped or stayed constant YoY, the lowest for an October in at least 20 years. However, eight metropolitan areas in the Midwest and South recorded small annual increases in overall delinquencies. The foreclosure inventory rate fell 0.1% YoY to 0.4%. Strong economic growth, low unemployment, sound underwriting and rising home prices continue to support mortgage credit performance. The CoreLogic report is here. (CoreLogic, APS)
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