Source: Scotsman Guide —
April marked one year and one month of delinquencies dropping on a yearly basis, with delinquent mortgages sliding 1.8% annually to 2.9% of all loans, according to CoreLogic’s latest Loan Performance Insights report.
On a monthly basis, April’s delinquency rate is up slightly from March’s 2.7% share. The strong job market and healthy income growth drove down the number of late payments at the start of this year and late last year, pushing March’s delinquency rate to the lowest level since at least January 1999. Inflation and other economic pressures, however, appear to be beginning to make an adverse impact on some homeowners with mortgages, though delinquencies still remain near all-time lows.
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