FORECLOSURE INVENTORY RATE DROPS TO 20-YEAR LOW

CoreLogic®'s(NYSE: CLGX) monthly Loan Performance Insights Report, out Tuesday, shows that nationally 4% of mortgages were in some stage of delinquency in March 2019, representing a 0.3-percentage-point decline in the overall delinquency rate compared with March 2018, when it was 4.3%. This was the lowest for the month of March in 13 years.
As of March 2019, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.4%, down 0.2 percentage points from March 2018. March 2019 marked the fifth consecutive month that the foreclosure inventory rate remained at 0.4% and was the lowest for any month since at least January 1999.
The rate for early-stage delinquencies – defined as 30 to 59 days past due – was 2% in March 2019, up from 1.8% in March 2018. The share of mortgages 60 to 89 days past due in March 2019 was 0.6%, unchanged from March 2018. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.4% in March 2019, down from 1.9% in March 2018. The serious delinquency rate of 1.4% this March was the lowest for that month since 2006, when it was also 1.4%.

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