Mortgage delinquencies dropped in April and the economy continued to show improvement, according to the latest Loan Performance Insights Report from CoreLogic, a property information, analytics and data-enabled solutions provider.
Nationally, mortgages in some stage of delinquencies, those that are 30 days or more past due including those in foreclosure, dropped to 4.8% of total mortgages in April. This is a decrease of 0.5 percentage points from last year’s 5.3%.
The foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, decreased to 0.7%, down from April 2016’s 1%. The serious delinquency rate, defined…