Based on CoreLogic's latest monthly Loan Performance Insights Report, 3.7% of US mortgages were in some stage of delinquency (30 days or more in arrears, including those in foreclosure) in October 2019, representing a 0.4 percentage point decline in the overall delinquency rate compared with October 2018, when it was 4.1%.

The October 2019 foreclosure inventory rate tied the prior 11 months as the lowest for any month since at least January 1999.

Measuring early-stage delinquency rates is important for analysing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency, as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next.

“National foreclosure and serious delinquency rates have remained fixed at record lows for at least the last six months,” said Frank Martell, president and CEO of CoreLogic. “However, as markets can be much more volatile at the metro level, both late-stage delinquencies and foreclosures have continued to increase at this level in the Midwest and Southern regions of the country.”