8.10.21
According to CoreLogic’s recent monthly Loan Performance Insights Report for May 2021, 4.7% of all mortgages in the U.S. were in some stage of delinquency representing a 2.6% decrease in delinquency compared to May 2020, when it was 7.3%. However, overall delinquencies are still above the early 2020, pre-pandemic rate of 3.5%. The latest data shows that although the pandemic has brought on economic challenges, in the case of mortgage delinquencies the impact has been minimal in part due to government assistance programs. Additionally, a CoreLogic survey of mortgage holders shows that 85% of respondents said they maintained employment through the pandemic, which has helped many homeowners avoid delinquency. In response to the latest figures, Frank Martell, CEO of CoreLogic believes, “Looking forward, we expect a robust economy and near-zero interest rates to hold delinquency levels at reasonable levels.”