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Some States Showing Signs of Stress, Delinquencies on the Rise
Tuesday, September 10, 2019
While it doesn't appear to be of "canary in the coalmine" magnitude, CoreLogic notes that there were annual increases in the delinquency rates of eight states in June. Those eight bucked a national trend that has brought the overall delinquency rate down to 4.0 percent, the lowest since at least 1999. That rate, which represents all mortgaged properties with loans 30 or more days past due or in foreclosure, is down 0.3 percent since June 2018. The company's Loan Performance Report says that the hot spots for increases were Vermont with a 0.7 percent increase, New Hampshire which rose 0.3 percent, and Nebraska and Minnesota, each up 0.2 percent. Four other states, Michigan, Iowa, Wisconsin and Connecticut, had nominal gains of 0.1 percent.
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