Delinquency and Transition Rates Declined Again in September; Rates Steady Ahead of Fed

Delinquency and Transition Rates Declined Again in September; Rates Steady Ahead of Fed

September marked additional improvement in loan performance nationwide. CoreLogic says the national delinquency rate, loans that were 30 or more days past due, including those in foreclosure, was 3.9 percent. This was down from the 4.0 rate the company reported in August and 2.4 percentage points lower than delinquencies in September 2020. Frank Nothaft, CoreLogic's chief economist said, "The economic recovery has pushed down the percent of delinquent borrowers to the lowest level since the pandemic began. The number of borrowers past due on their mortgage doubled between March and May 2020. The past due rate in September 2021 was the lowest since March 2020." The rate for early-stage delinquencies - defined as 30 to 59 days past due - was 1.1 percent in September, unchanged from August but