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News & Press: Industry News

Delinquencies at 11-Year Low

Tuesday, June 19, 2018  
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According to CoreLogic’s Loan Performance Insights Report, the delinquency rate in March was 4.3% nationwide, an 11 year low. The rate is now slightly above the 4.2% in March of 2007. The San Francisco metropolitan area had the lowest rate of the ten largest metropolitan areas at 1.5%, while the Los Angeles metropolitan area had the third lowest rate at slightly over 2%. In March of 2010 the nationwide rate was 11.1%.

The delinquency rate tracks mortgages 30 days or more past due. The states with the largest delinquency rates were Mississippi, Louisiana, Florida, New York and New Jersey. The states with the lowest rates were Montana, Washington, Oregon, North Dakota and Colorado. Colorado’s rate of 1.8% was still higher than the San Francisco metropolitan area rate.

Perhaps not coincidentally, CoreLogic earlier reported that home equity increased from the first quarter 2017 to the first quarter 2018 by $1 trillion. This is a remarkable increase of 13.3% for the 12-month period.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851