Mortgage delinquencies in the U.S. have reached their lowest point since the financial crisis, according to data from the Consumer Financial Protection Bureau’s new mortgage performance trends tool, which the bureau unveiled today. The tool tracks delinquencies nationwide for two separate cohorts: borrowers between 30 and 89 days behind on their payments, and those more than 90 days overdue.
The CFPB’s data showed that serious delinquencies — those past 90 days due — have fallen from a peak of 4.9 percent in 2010 to 1.1 percent. The highest number of serious delinquencies were reported in New Jersey and Mississippi, though both states remained well below the peak crisis average. The national average for mortgage loans 30 to 89 days past due was 2.1 percent, down from a peak high of 4.2 percent in 2009. The CFPB also noted that the states hit hardest during the financial crisis — including California, Arizona, Nevada and Florida — have seen significant declines in delinquency rates in recent years.