DS News - Bank of America

78 NATIONAL SNAPSHOT Regional MISSISSIPPI LEADS IN DELINQUENCIES, WHILE NORTH DAKOTA SHOWS STRONG LOAN PERFORMANCE By Molly Boesel In February 2017, 5 percent of home mortgages were in some stage of delinquency, down from 5.5 percent a year earlier, according to the latest CoreLogic Loan Performance Insights Report. e measure includes all home loans 30 days or more past due, including those in foreclosure. e share of mortgages that were 30 to 59 days past due–considered "early- stage" delinquencies–was 2.1 percent in February 2017, unchanged from February 2016. e share of mortgages 60 to 89 days past due was 0.7 percent in February 2017, the same as in February 2016. In addition to delinquency rates, CoreLogic tracks the rate at which mortgages transition from one stage of delinquency to the next, such as going from being current to 30 days past due. Figure 1 shows that being current-to-30 day transition rate ticked up in February. e February 2017 current to-30-day rate was 1 percent, up from 0.8 percent in February 2016. e 30- to 60-day transition rate was 15.4 percent in February 2017, up from 12.2 percent in February 2016, while the 60- to 90-day transition rate was 24.9 percent this February, up from 22.3 percent a year earlier. Figure 2 shows the states with the highest and lowest rates of mortgages in some stage of delinquency. In February 2017, that rate was highest in Mississippi– 9 percent—and North Dakota had the lowest rate at 2.2 percent. Figure 3 shows the 30 days-or-more past-due rate for the 10 largest metro areas (metro areas used in this report are the 10 most populous Core Based Statistical Areas). at rate was highest–7.6 percent–in the New York metro area and lowest–1.9 percent–in San Francisco. STATS AT-A-GLANCE Early-stage delinquencies were unchanged from a year ago. e current-to-30 day transition rate increased in February 2017 from a year earlier. San Francisco had the lowest delinquency rate of the largest metropolitan areas.

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