Early-stage mortgage delinquencies jump after hurricane season

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 · Along with foreclosure and overall delinquency rates, the CoreLogic report looked at mortgage delinquency in its early stages. Early-stage delinquencies – or loan payments that were 30-59 days late – rose 0.1 percent over the last month but stayed the same from February 2017.

Report: Early-Stage Mortgage Delinquencies Increased Following Active Hurricane Season. By 1-9-2018.. The rate for early-stage delinquencies, defined as 30-59 days past due, was 2.3 percent in October 2017, down 0.1 percentage points from 2.4 percent in September 2017 and up 0.1 percentage.

As the impact from the recent turbulent hurricane season fades, mortgage. “In Puerto Rico, the serious delinquency rate jumped to 6.3% in November, Early stage delinquencies, or those that are 30 to 59 days past due,

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Five months after Hurricane Harvey damaged thousands of houses in Texas, delinquent mortgage payments have spiked as homeowners deal with mounting bills.

Following a very active hurricane season, the number of early-stage mortgage delinquencies increased in October to 2.3 percent, up from 2.2 percent in October 2016, according to CoreLogic’s latest monthly loan Performance Insights Report. However, the number of mortgages in some stage of delinquency accounted 5.1 percent of all mortgages, down 0.1 from October 2016 and the lowest october amount since 2006.

While serious delinquencies and foreclosure inventory dropped at the start of 2017, it was early-stage delinquencies that saw the best performance as they hit their lowest rate in two decades.

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effects on mortgage performance from the 2017 hurricane season. This information has been compiled from Black Knight’s McDash loan-level mortgage performance database. You may click on each chart to see its contents in high-resolution. » Though January declines in delinquencies are seasonally typical, this month’s 8.57

The 1.9 percent serious delinquency rate in June, July, August, September and October of this year marks the lowest level for any month since it was also 1.9 percent in October 2007. ‘After rising in September, early-stage delinquencies declined by 0.1 percentage points month over month in October.

"After rising in September, early-stage delinquencies declined by 0.1 percentage points month over month in October. The temporary rise in September’s early-stage delinquencies reflected the impact of the hurricanes in Texas, Florida, and Puerto Rico, but now the impact from the hurricanes is fading from a national perspective," said Dr. Frank Nothaft, chief economist for CoreLogic.