Key Highlights
- Nation’s overall delinquency rate was 7.1% in June
- Both overall and serious delinquency rates in all states increased in June
According to the latest Core Logic Loan Performance Insights Report, 7.1% of all home mortgages were in some state of delinquency in June 2020. This is a +3.1% point increase from June 2019. The increase in the serious delinquency rate (the share of delinquencies defined as 90 days or more past due or loans now in foreclosure) increased to the highest level in more than 21 years.
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Here are the states with the Highest Rate of Mortgages at least 30 days past due in June 2020:
- New York
- New Jersey
- Louisiana
- Mississippi
- Florida
States that recorded the largest annual increases in mortgage delinquencies included Nevada, New Jersey, New York and Hawaii.
Here are the states with the Lowest Rate of Mortgages at least 30 days past due in June 2020:
- Montana
- Iowa
- Wisconsin
- South Dakota
- Idaho
The Ten Largest Metro Areas had the following percentages of delinquencies:
- Miami – 13.4%
- New York – 12.0%
- Las Vegas – 10.1%
- Houston – 10%
- Chicago – 8.0%
- Washington DC – 7.8%
- Los Angeles – 7.5%
- Boston – 6.0%
- Denver – 5.0%
- San Francisco – 4.7%
Metros showing the greatest gains in delinquencies also included Kahului, HW, Las Vegas, Odessa TX and Midland TX.
Thanks to CoreLogic.
Also read: International Buyers Still Looking in Major Cities, Podcast: Your 10 Step Massive Motivation Action Plan Has Arrived (Listen Now) | Tim and Julie Harris, Pandemic NOT Derailing Housing Market
