Posted To: MND NewsWireThe effects of Hurricane Irma continue to be felt in the Southeast, with Florida the only state to report an increase in its delinquency rate in May. The rate in the state was up 1 percentage point compared to May 2017 and gave Florida the third highest rate in the nation at 6.2 percent. CoreLogic, in its Loan Performance Insights Report, said the rest of the nation continues to improve, although Texas, still impacted by Hurricane Harvey, saw rates remain the same as a year earlier. The national rate was 4.2 percent compared to 4.5 percent in May 2017, the lowest rate for a May in 12 years and within 0.1 percent of the previous low in May 2006. The rate is also well below the pre-crisis period of 2000 to 2006 when the share of delinquent mortgages averaged 4.7 percent. Within the national number…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631