CoreLogic Reports June U.S. Foreclosure Rate Lowest in Over Two Decades
IRVINE, Calif.–(BUSINESS WIRE)–CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for June 2021.
For the month of June, 4.4% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 2.7-percentage point decrease in delinquency compared to June 2020, when it was 7.1%. Despite the positive trend, overall delinquencies remain above the February 2020, pre-pandemic rate of 3.6%.
To gain an accurate view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency. In June 2021, the U.S. delinquency and transition rates, and their year-over-year changes, were as follows:
- Early-Stage Delinquencies (30 to 59 days past due): 1.1%, down from 1.8% in June 2020.
- Adverse Delinquency (60 to 89 days past due): 0.3%, down from 1.8% in June 2020.
- Serious Delinquency (90 days or more past due, including loans in foreclosure): 3%, down from 3.4% in June 2020. While still high, this is the tenth consecutive month of declines, and the lowest serious delinquency rate since May 2020.
- Foreclosure Inventory Rate (the share of mortgages in some stage of the foreclosure process): 0.2%, down from 0.3% in June 2020. This is the lowest foreclosure rate recorded since CoreLogic began recording data (1999).
- Transition Rate (the share of mortgages that transitioned from current to 30 days past due): 0.6%, down from 1% in June 2020.