What state has the highest mortgage delinquency?

Louisiana had January’s highest delinquency rate at 9.2%, trailed by 8.4% in Mississippi and 8% in New York. Hawaii, Nevada and Florida saw the largest annual growth in delinquency, jumping 4.2, 4.1 and 3.1 percentage points, respectively.

What percentage of US mortgages are in default?

The mortgage delinquency rate peaked at 8.22 percent in the second quarter of 2020 and within three quarters has dropped by 184 basis points to 6.38 percent.

How many mortgages are delinquent in the United States?

Just under 6% of all U.S. mortgages — 2.7 million homes — were in some stage of delinquency at the end of November, according to the latest reading by CoreLogic. The largest share of troubled mortgages are those that are considered seriously delinquent, or more than 90 days past due.

Are mortgage defaults coming?

The final delinquency tally for December 2020 showed that, by year’s end, 1.54 million more delinquent and 1.7 million more seriously delinquent mortgages were reported than at the start of 2020, according to a separate January report from Black Knight. …

What is the current mortgage delinquency rate?

Today’s Mortgage Interest Rates: Mortgage Rates, New Home Sales Shoot Up. Serious delinquency (90 days or more past due, including loans in foreclosure): 3.3%, up from 1.2% in April 2020. Foreclosure inventory rate (the share of mortgages in some stage of the foreclosure process): 0.3%, unchanged from April 2020.

How many homeowners are behind on their mortgage 2021?

Housing-Related Financial Distress During the Pandemic, RIHA’s study, found that 8.6% of renters (2.86 million households) missed, delayed, or made a reduced payment in June 2021, while 4.6% homeowners (2.19 million) missed their mortgage payment.

What is current mortgage default rate?

In April 2021, the delinquency and transition rates, and their year-over-year changes, were as follows: Early-stage delinquencies (30 to 59 days past due): 1%, down from 4.2% in April 2020. Adverse delinquency (60 to 89 days past due): 0.3%, down from 0.7% in April 2020.

Are loans in forbearance considered delinquent?

Your loan account remains delinquent until you repay the past due amount or make other arrangements, such as deferment or forbearance, or changing repayment plans.

How many people are behind on mortgage?

Mortgages: foreclosure and eviction New research from Harvard University shows that: 2 million homeowners are behind on their mortgages; and. 6 million renters are behind on their rent payments.

Did the mortgage moratorium end?

Struggling homeowners may still be able to keep their homes.

What is a good delinquency rate?

As of the fourth quarter of 2018, the total delinquency rate from loans and leases at commercial banks was 1.79%. Residential real estate loans reported the highest delinquency rate at 2.83%. Consumer credit cards reported the second-highest delinquency rate at 2.54%.

How does the business cycle affect mortgage defaults?

Delinquencies and defaults on household debt typically closely follow the business cycle. As economic conditions deteriorate, falling employment and incomes put a strain on family finances, leading to a rise in missed debt payments and defaults.

Which is the state with the highest mortgage delinquency rate?

Mortgage delinquency rate: 1.90% April 2020 unemployment rate: 15.1% Researchers used New York Fed data to identify the states with the highest mortgage delinquency rates. The New York Fed analysis takes forbearance programs into account when calculating mortgage delinquency rates.

What is the percentage of mortgages that are 30-89 days delinquent?

These interactive charts show the percentage of mortgages 30–89 days delinquent in the U.S. based on a 5 percent sample of residential mortgages since January 2008. This interactive chart lets you view the 30–89 day mortgage delinquency rate for a specific state, metro area, non-metro area, or county and compare it to the national average.

Where are the lowest mortgage rates in the United States?

The lowest rates are in the Mountain states of Colorado, Utah, and Idaho, with each reporting rates below 0.50 percent. To find the states with the highest mortgage delinquency rates in the country, researchers at Construction Coverage used the most recent state-level data from the New York Fed.