According to the latest Housing Market Conditions report, released by the Federal Reserve Bank of St. Louis last week, 4.23 percent of mortgages in the U.S. were delinquent 90 days or more or were in foreclosure in June 2014. In comparison, 4.49 percent of mortgages were seriously delinquent in March 2014. The image below breaks down the percent of seriously delinquent mortgages by county for June 2014.
The share of seriously delinquent loans in the U.S. decreased 26 basis points (bps) between March 2014 and June 2014. Loans that were delinquent 90 days or more decreased 7 bps, while foreclosures decreased 19 bps. The image below shows the change in seriously delinquent mortgages by county.
The next image shows changes in U.S. house prices since 2000. In the second quarter of 2014, house price indexes for the U.S. rose. The Federal Housing Finance Agency Seasonally Adjusted Expanded House Price Index went up 1.3 percent, and the CoreLogic Home Price Index rose 3.7 percent in the second quarter of 2014. Compared with the same period one year ago, the house price indexes were 6.2 percent (FHFA) and 7.3 percent (CoreLogic) higher.
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The St. Louis Fed On the Economy blog features relevant commentary, analysis, research and data from our economists and other St. Louis Fed experts.
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