The serious mortgage delinquency rate decreased in the final quarter of 2017 to the lowest point since the great recession, according to TransUnion’s Q4 2017 Industry Insights Report.
The serious mortgage delinquency rate, or those that are 60 days or more past due, decreased to 1.86% in the fourth quarter of 2017, according to the report.
“Mortgage delinquency rates for Q4 2017 continued to decline, reaching their lowest levels since the recession,” said Joe Mellman, TransUnion senior vice president and mortgage business leader. “This largely reflects recession era defaults having worked their way out of the system and recent originations being underwritten to a very high standard.”
The chart below shows the mortgage delinquency rate decreased across every generation. Millennials and Gen Xers saw the greatest drop in…