Delinquencies Inch Down in October
In October 2020, 6.1% of home mortgages were in some stage of delinquency, a small decrease from September 2020 (Core Logic)
The share of mortgages that were 30 to 59 days past due – considered early-stage delinquencies – was 1.4% in October 2020, down sharply from a post-pandemic high of 4.2% in April 2020 and below the year ago rate of 1.8%. The share of mortgages 60 to 89 days past due was 0.6% in October 2020, unchanged from 0.6% in October 2019 and down from 2.8% in May 2020. The drop in early and mid-stage delinquencies from the spring indicates a lower share of mortgages entering delinquency after the initial surge after the start of the pandemic in the U.S.