Despite Disaster Impacts, Loans are Performing Historically Well

By Jann Swanson

Posted To: MND NewsWire

Some housing market analysts have found recent trends in construction, home sales, and diminishing affordability disquieting and perhaps early warning signs of another housing-led recession . They may find loan performance metrics reassuring. CoreLogic’s report for October indicates that, except for the impact of several recent natural disasters, those metrics are exceptional. CoreLogic’s CEO Frank Martell says, “Despite some regional spikes related to hurricane and fire impacted areas, overall delinquency rates are near or at historic lows .” The national delinquency rate, a measure of the percentage of loans that are 30 or more days past due, including those in foreclosure, was 4.1 percent. This is a significant change from the rate in September which was 4.4 percent. In October 2017, 5.1…(read more)

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