re: Delinquencies on auto loans are at the highest level in a decade

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Now do delinquencies on mortgages.

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CoreLogic has released its monthly Loan Performance Insights Report for June 2023 showing that an estimated 2.6% of all mortgages in the U.S. were in some stage of delinquency—defined as 30 days or more past due, including those in foreclosure—representing a 0.3 percentage point decrease compared with 2.9% in June 2022 and unchanged from May 2023.

CoreLogic examined all stages of delinquency and found that in June 2023, the U.S. delinquency and transition rates and their year-over-year changes, were as follows:

Early-Stage Delinquencies (30 to 59 days past due): 1.3%, up from 1.2% in June 2022

Adverse Delinquency (60 to 89 days past due): 0.4%, up from 0.3% in June 2022.

Serious Delinquency (90 days or more past due, including loans in foreclosure): 1%, down from 1.3% in June 2022 and a high of 4.3% in August 2020.

Foreclosure Inventory Rate (the share of mortgages in some stage of the foreclosure process): 0.3%, unchanged from June 2022.

Transition Rate (the share of mortgages that transitioned from current to 30 days past due): 0.6%, down from 0.7% in June 2022.

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