Although there was a month-over-month improvement in serious first mortgage delinquency, the rate on home-secured credit lines moved higher.
U.S. first mortgages that were outstanding concluded June 2016 at 49.8 million units with an aggregate principal balance of $8.33 trillion.
Based on the loan balances, the latest total has increased by nearly 3 percent compared to the collective first mortgage book as of a year earlier.
Those figures were included in the June 2016 Equifax National Consumer Credit Trends Report.
Delinquency of at least 90 days on the nation’s first-mortgage portfolio
stood at 1.40 percent as of mid-2016. The rate declined from 1.49 percent in May and 2.07 percent in June 2015.
As of June 30, 2016, there were 4.5 million home-equity loans outstanding for $131.4 billion. The balance of HELs fell 3 percent from mid-2015.
Serious delinquency on HELs was 1.46 percent, 1 basis point better than as of May 31, 2016, and 34 BPS lower than as of June 30, 2015.
Equifax reported
10.9 million home-equity lines of credit outstanding for $486.5 billion as of mid-2016. HELOC balances fell 4 percent from the same point last year.
HELOC 90-day delinquency closed out the most-recent period at 1.28 percent.
The rate was higher than 1.25 percent at the end of May but sank from 1.45 percent at the middle of last year.
