Spike in early past-due loans leads to delinquency rate jump

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April saw 6.1% of mortgages at least 30 days past due, marking the highest overall delinquency rate since January 2016, CoreLogic reported. Per the company’s latest Loan Performance Insights Report, the April delinquency rate spiked 2.5 percentage points from the month prior, with the coronavirus crisis continuing to make it difficult for many borrowers to meet their monthly loan payments. Year over year, the delinquency rate is up 2.5 percentage points from April 2019, ending 27 straight months of annual decreases in the overall past-due rate.

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