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CoreLogic: No Foreclosure Wave in Sight

Posted To: MND NewsWire

While the national delinquency rate has not returned to the 3.5 percent rate it had reached before the onset of the pandemic, CoreLogic says the percentage of loans 30 or more days past due has declined 2.6 points since May 2020. The company says the rate in May 2021 was 4.7 percent compared to 7.3 percent in May of last year. Frank Martell, president and CEO of Corelogic says, “The pandemic has created many challenges but, in the case of delinquencies, the impacts have been relatively muted thanks to numerous government support programs and the sharp snapback in economic activity over the past several quarters. Looking forward, we expect a robust economy and near-zero interest rates to hold delinquency levels at reasonable levels.” Early stage delinquencies, those homeowners 30 to 59 days…(read more)

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