Mortgage Performance: Loan Performance Insights Report Highlights February 2017

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Share of Mortgages in Some Stage of Delinquency Fell to 5 Percent

  • Early-stage delinquencies were unchanged from a year ago
  • The current-to 30-day transition rate increased in February 2017 from a year earlier
  • San Francisco had the lowest delinquency rate of the largest metropolitan areas

 In February 2017, 5 percent of home mortgages were in some stage of delinquency, down from 5.5 percent a year earlier, according to the latest CoreLogic Loan Performance Insights Report. The measure includes all home loans 30 days or more past due, including those in foreclosure.

States With High & Low Mortgage

States With High & Low Mortgage

The share of mortgages that were 30 to 59 days past due – considered “early-stage” delinquencies – was 2.1 percent in February 2017, unchanged from February 2016. The share of mortgages 60 to 89 days past due was 0.7 percent in February 2017, the same as in February 2016.

In addition to delinquency rates, CoreLogic tracks the rate at which mortgages transition from one stage of delinquency to the next, such as going from being current to 30 days past due. Figure 1 shows that the current- to 30-day transition rate ticked up in February. The February 2017 current- to 30-day rate was 1 percent, up from 0.8 percent in February 2016. The 30- to 60-day transition rate was 15.4 percent in February 2017, up from 12.2 percent in February 2016, while the 60- to 90-day transition rate was 24.9 percent this February, up from 22.3 percent a year earlier.

Rate of Mortgage at Least 30 Days Past Due

Rate of Mortgage at Least 30 Days Past Due

Figure 2 shows the states with the highest and lowest rate of mortgages in some stage of delinquency. In February 2017 that rate was highest in Mississippi – 9 percent — and North Dakota had the lowest rate at 2.2 percent. Figure 3 shows the 30-days-or-more past-due rate for the 10 largest metro areas[1]. That rate was highest – 7.6 percent – in the New York metro area and lowest – 1.9 percent – in San Francisco.

1 Metro areas used in this report are the ten most populous Core Based Statistical Areas.

© 2017 CoreLogic, Inc. All rights reserved.


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