CoreLogic Reports U.S. Overall Delinquency and Foreclosure Rates Are Lowest for November Since at Least 2000

  • Delinquency rates rose year over year in some areas throughout
    California and the Southeast due to natural disasters
  • U.S. serious delinquency rate was the lowest for a November in 12
  • No state logged gains in overall or serious delinquency rate in

IRVINE, Calif.–(BUSINESS WIRE)–CoreLogic® (NYSE: CLGX), a leading global property
information, analytics and data-enabled solutions provider, today
released its monthly Loan
Performance Insights Report
. The report shows that, nationally, 4.1
percent of mortgages were in some stage of delinquency (30 days or more
past due, including those in foreclosure) in November 2018, representing
a 1.1 percentage point decline in the overall delinquency rate compared
with November 2017, when it was 5.2 percent.

As of November 2018, the foreclosure inventory rate – which measures the
share of mortgages in some stage of the foreclosure process – was 0.4
percent, down 0.2 percentage points from November 2017. The November
2018 foreclosure inventory rate was the lowest for any month since at
least January 2000.

Measuring early-stage delinquency rates is important for analyzing the
health of the mortgage market. To monitor mortgage performance
comprehensively, CoreLogic examines all stages of delinquency, as well
as transition rates, which indicate the percentage of mortgages moving
from one stage of delinquency to the next.

The rate for early-stage delinquencies – defined as 30 to 59 days past
due – was 2 percent in November 2018, down from 2.2 percent in November
2017. The share of mortgages that were 60 to 89 days past due in
November 2018 was 0.7 percent, down from 0.9 percent in November 2017.
The serious delinquency rate – defined as 90 days or more past due,
including loans in foreclosure – was 1.5 percent in November 2018, down
from 2 percent in November 2017. November 2018 marked the lowest serious
delinquency rate for the month since 2006 when it was also 1.5 percent.
It ties with August, September and October 2018 as the lowest for any
month since March 2007 when it was also 1.5 percent.

Since early-stage delinquencies can be volatile, CoreLogic also analyzes
transition rates. The share of mortgages that transitioned from current
to 30 days past due was 0.9 percent in November 2018, down from 1
percent in November 2017. By comparison, in January 2007, just before
the start of the financial crisis, the current-to-30-day transition rate
was 1.2 percent, while it peaked in November 2008 at 2 percent.

“Solid income growth, a record amount of home equity and an absence of
high-risk loan products put the U.S. homeowner on solid ground,” said
Dr. Frank Nothaft, chief economist for CoreLogic. “All of this has
helped push delinquency and foreclosure rates to the lowest levels in
almost two decades, and will provide a cushion if the housing market
should turn down.”

The nation’s overall delinquency rate has fallen on a year-over-year
basis for the past 11 consecutive months. However, loan vulnerability in
several metropolitan areas in North Carolina are still struggling from
Hurricane Florence. In November 2018, seven metropolitan areas logged an
increase in their serious delinquency rates, with the largest gains
occurring in the Wilmington and New Bern metropolitan areas.

“On a national basis, we continue to see strong loan performance,” said
Frank Martell, president and CEO of CoreLogic. “Areas that were impacted
by hurricanes or wildfires in 2018 are now seeing relatively large
annual gains in the share of mortgages moving into 30-day delinquency.
As with previous disasters, this is to be expected and we will see the
impacts dissipate over time.”

The next CoreLogic Loan Performance Insights Report will be released on
March 12, 2019, featuring data for December 2018.

For ongoing housing trends and data, visit the CoreLogic Insights Blog:


The data in this report represents foreclosure and delinquency activity
reported through November 2018.

The data in this report accounts for only first liens against a property
and does not include secondary liens. The delinquency, transition and
foreclosure rates are measured only against homes that have an
outstanding mortgage. Homes without mortgage liens are not typically
subject to foreclosure and are, therefore, excluded from the analysis.
Approximately one-third of homes nationally are owned outright and do
not have a mortgage. CoreLogic has approximately 85 percent coverage of
U.S. foreclosure data.

Source: CoreLogic

The data provided is for use only by the primary recipient or the
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data, contact Alyson Austin at
or Allyse Sanchez at
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of CoreLogic. Do not use the data in any unlawful manner. This data is
compiled from public records, contributory databases and proprietary
analytics, and its accuracy is dependent upon these sources.

About CoreLogic

CoreLogic (NYSE: CLGX) is a leading global property information,
analytics and data-enabled solutions provider. The company’s combined
data from public, contributory and proprietary sources includes over 4.5
billion records spanning more than 50 years, providing detailed coverage
of property, mortgages and other encumbrances, consumer credit, tenancy,
location, hazard risk and related performance information. The markets
CoreLogic serves include real estate and mortgage finance, insurance,
capital markets, and the public sector. CoreLogic delivers value to
clients through unique data, analytics, workflow technology, advisory
and managed services. Clients rely on CoreLogic to help identify and
manage growth opportunities, improve performance and mitigate risk.
Headquartered in Irvine, Calif., CoreLogic operates in North America,
Western Europe and Asia Pacific. For more information, please visit

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and/or its subsidiaries.


Media Contacts:
Alyson Austin
Corporate Communications

Allyse Sanchez
INK Communications

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