In September 2016, 4.65 percent of loans in the Memphis MSA were seriously delinquent (delinquent 90 days or more or in foreclosure). The national rate stood at 2.79 percent.
June 2016 to September 2016
The share of seriously delinquent loans decreased 13 basis points (bps) in the Memphis MSA between June 2016 and September 2016. Loans that are delinquent 90 days or more decreased 16 bps; foreclosures increased 2 bps.
Third Quarter 2016
In the third quarter of 2016, house price indices for the Memphis MSA were 1.4 percent higher (FHFA and CoreLogic) than in the second quarter of 2016. Since the third quarter of 2015, house price indices were 4.3 percent higher (FHFA) and 4.4 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.