Mortgage Daily

Published On: July 18, 2017

A month-over-month improvement in serious mortgage delinquency was recorded for junior- and senior-lien assets. First mortgage lates also fell from a year earlier.

A measure of 90-day consumer credit delinquency,
the Composite Consumer Credit Default Index, was 0.82 percent in June.

The index — which reflects performance on bank cards, car loans and first and second mortgages — declined from 0.86 percent the preceding month.

There was no change from the same month in the preceding year.

S&P Dow Jones Indices and Experian reported the data Tuesday.

In New York, the 90-day composite rate tumbled from May by 13 basis points
— the most of the five-largest metropolitan statistical areas.

Los Angeles’ 0.66 percent rate last month was the lowest of any MSA, and Miami’s 1.17 percent was the highest.

At 0.60 percent as of mid-2017, ninety-day delinquency on U.S. first mortgages was 4 BPS better than
as of May 31. Serious first-mortgage delinquency was 5 BPS lower than midway through last year.

Although second-mortgage delinquency fell 5 BPS from a month earlier to 0.49 percent as of June 30, 2017, the 90-day rate deteriorated by a basis point versus a year earlier.

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