In March 2017, 4.26 percent of loans in the Memphis MSA were seriously delinquent (delinquent 90 days or more or in foreclosure). The national rate stood at 2.44 percent.
December 2016 to March 2017
The share of seriously delinquent loans decreased 41 basis points (bps) in the Memphis MSA between December 2016 and March 2017. Loans that are delinquent 90 days or more decreased 35 bps; foreclosures decreased 5 bps.
First Quarter 2017
In the first quarter of 2017, house price indices for the Memphis MSA were 0.4 percent higher (FHFA) and 2.5 percent higher (CoreLogic) than in the fourth quarter of 2016. Since the first quarter of 2016, house price indices were 4.5 percent higher (FHFA) and 6.6 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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