After a slight uptick in the previous month, nationwide delinquency rates in December fell to the lowest level for the past 20 years.

Across the United States, overall delinquency rates fell to 3.7 percent — down from 3.9 percent in November, according to new data from property analytics provider CoreLogic. The number is also down from 4.1 percent in December 2018.

CoreLogic

“The CoreLogic HPI shows home price growth quickened during the last few months of 2019, padding the home equity cushion for owners,” Dr. Frank Nothaft, chief economist at CoreLogic, said in a press statement. “Our HPI Forecast for 2020 anticipates a further pickup in appreciation, adding to home-equity wealth for owners and lowering foreclosure risk.”

The foreclosure inventory rate, or the share of mortgages in some stage of foreclosure, is at 0.4 percent — same as both last month and the year prior. The outlook for the future is, on the whole, positive. No state saw the number of its delinquencies grow while North Carolina and Mississippi saw the most dramatic drops at 0.8 percentage points each.

CoreLogic

The low numbers are, according to CoreLogic, powered by a flourishing job market, a strong economy and growing home values — after people buy a home, fewer and fewer struggle to make their payments.

“The longest economic expansion in history helped serious delinquency rates reach a 20-year low,” Frank Martell, president and CEO of CoreLogic, said in a press statement. “As mortgage rates continue to fall in the wake of recent global events, we may see homeowners refinance into lower-monthly payments, or into shorter-term mortgages, which can further reduce delinquency and foreclosure risk.”

Email Veronika Bondarenko

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×