Are Mortgage Delinquencies on The Rise?

Core Logic puts out a report every month about mortgage delinquencies, which is obviously an important statistic about the heath of the of real estate market overall.

Mortgage Delinquencies are Trending Down

The main headline shows 30 days past due or greater. On the chart, the green number is 2021 and the blue number shows 2022. Based on these numbers, delinquencies are down by a full percentage point year-over-year.

A large part of the statistics shows in the 120+ days, which doesn’t take into account foreclosure proceedings. Right now, foreclosures are up year-over-year by 0.1%. Which is something to keep an eye on, but it doesn’t merit worry because the increase is so small.

Do you want more information about Core Logic’s report? Click on this link.

The Real Estate Market is Holding Strong

Looking at these numbers, it definitely looks like the market is continuing to stay healthy. Equity is still strong. There are many other factors that also show the strength of the real estate market, such as the lack of inventory and the number of deals that are going through.

Hopefully we will see interest rates coming down in the future and that will continue to help the market.

Happy New Year from the Team at Franklin Loan Center

If you have any questions or thoughts to share, then feel free to reach out any time. I am always here to help and offer personalized recommendations.

Have a great New Year celebration, and I will see you in 2023!