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【World Property Journal】U.S. Mortgage Delinquency Rates at 20-Year Lows

【World Property Journal】U.S. Mortgage Delinquency Rates at 20-Year Lows

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As of July 2019, the foreclosure inventory rate - which measures the share of mortgages in some stage of the foreclosure process - was 0.4%, down 0.1 percentage points from July 2018. The July 2019 foreclosure inventory rate tied the prior eight months as the lowest for any month since at least January 1999.

Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency, as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next.

The rate for early-stage delinquencies - defined as 30 to 59 days past due - was 1.8% in July 2019, down from 1.9% in July 2018. The share of mortgages 60 to 89 days past due in July 2019 was 0.6%, unchanged from July 2018. The serious delinquency rate - defined as 90 days or more past due, including loans in foreclosure - was 1.3% in July 2019, down from 1.6% in July 2018. This July's serious delinquency rate of 1.3% was the lowest for the month of July since 2005 when it was also 1.3%; it tied the April, May and June 2019 rates as the lowest for any month since it was also 1.3% in August 2005.
 

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