General World News

Mortgage delinquency rate continues to shrink

Mortgage delinquency rates hit the lowest level since the beginning of the pandemic in August, according to the most recent CoreLogic Loan Performance Report. However, some borrowers are still facing severe financial challenges.

In August, 4% of mortgages were delinquent by at least 30 days, including foreclosure, a drop from the 6.6% rate in August of 2020. The transition rate – mortgages transitioning from current to 30 days past due – dropped three basis points to 0.6% in the same period.

Frank Martell, president and CEO of CoreLogic, said that fiscal and monetary stimulus are pushing home prices details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com