Domicile Delinquencies

The delinquency rate for mortgages on one-to-four-unit properties fell to 3.37% at the end of 23Q2. That’s down 27bps Y-o-Y and is the lowest delinquency rate since record keeping began in 1979. The Y-o-Y conventional loan delinquency rate fell 35bps, the VA loan delinquency rate declined 52 points, but in a slightly worrying trend, the FHA delinquency rate rose 10 bps. Separately, the foreclosure rate fell 6pbs Y-o-Y to 0.53%.