Mortgage Delinquencies in the US Hold at Record-Low Levels: CoreLogic Analysis

CoreLogic reports that the national delinquency rate was 2.7% in February 2023, down from 2.8% in January 2023. This is the lowest level of mortgage delinquencies since CoreLogic began tracking the data in 1999.

The CoreLogic report also found that the number of mortgages in active foreclosure decreased by 13.7% from January 2023 to February 2023, and by 46.3% year-over-year. This is the lowest level of active foreclosures since March 2020.

The low level of mortgage delinquencies and foreclosures is a sign of the overall strength of the housing market, said Frank Nothaft, chief economist at CoreLogic. This is good news for homeowners, as well as for the overall economy.

The low level of mortgage delinquencies is likely due to a number of factors, including:

• Strong economic growth
• Low unemployment rates
• Rising wages
• Low interest rates

These factors have helped homeowners to stay current on their mortgage payments and have reduced the risk of foreclosure.

The CoreLogic report is a positive sign for the housing market. It shows that homeowners are in a strong financial position and that the risk of foreclosure is low. This is good news for the overall economy, as well as for homeowners.