Loan performance remained flat in July 2017 after hitting 10-year lows the previous month, according to a report released today from CoreLogic, a global property information and analytics firm.
Year-over year, the 30-days or more delinquency rate dropped 0.9 percent between July 2016, when 5.5 percent of all mortgages were 30-days or more delinquent and July 2017, when that number was 4.6 percent.
In Connecticut, the numbers remained essentially flat since June 2017. The 30-plus days delinquency rate dropped 1 percent from 6.6 percent in July 2016 to 5.6 percent in July 2017. The foreclosure rate fell 0.3 percent during the same time from 1.4 percent in July 2016 to 1.1 percent in July 2017.
“Even though delinquency rates are lower in most markets than they were a year ago, there are some worrying trends,” Frank Martell, president and CEO of CoreLogic, said in a statement. “For example, markets affected by the decline in oil production or anemic job creation have seen an increase in defaults. We see this in markets such as Anchorage, Baton Rouge and Lafayette, where the serious delinquency rate rose over the last year.”