Big Drop In Delinquency Rates in March

All mortgage delinquency measures improved in March 2021 compared with the prior month, according to the latest data from CoreLogic’s Loan Performance Insights Report (CL)

• In March 2021, 4.9% of home mortgages were in some stage of delinquency.

• This was a drop of 0.8% from February and was the largest drop since the start of the pandemic.

As mentioned above, all levels of delinquency were down in March of 2021…

• Early-stage delinquencies were 1% in March down 0.5% from February and down sharply from a post-pandemic high of 4.2% in April 2020.

• Mid-stage delinquencies were 0.4% in March down from 0.6% in March 2020 and down from the pandemic high of 2.8% in May 2020.

• Serious delinquencies were 3.5% in March down from 3.7% in February and the recent high in August at 4.3%, but it is roughly three times that of a year earlier.