In December 2016, 4.67 percent of loans in the Memphis MSA were seriously delinquent (delinquent 90 days or more or in foreclosure). The national rate stood at 2.72 percent.
September 2016 to December 2016
The share of seriously delinquent loans increased 1 basis point (bp) in the Memphis MSA between September 2016 and December 2016. Loans that are delinquent 90 days or more did not change; foreclosures increased 2 bps.
Fourth Quarter 2016
In the fourth quarter of 2016, house price indices for the Memphis MSA were 0.9 percent higher (FHFA) and 0.5 percent higher (CoreLogic) than in the third quarter of 2016. Since the fourth quarter of 2015, house price indices were 5.3 percent higher (FHFA) and 3.7 percent higher (CoreLogic).
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Bill Emmons, an assistant vice president and economist at the St. Louis Fed, analyzes the quarterly Housing Market Conditions report.
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