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4-Traders Homepage  >  Equities  >  Nyse  >  Corelogic Inc    CLGX

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Corelogic : Mortgage delinquency rate leveling Mortgage delinquency rate leveling off in Winston-Salem area

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09/14/2017 | 09:45am CEST

The number of Winston-Salem area homeowners late on their mortgage payments was unchanged in June at 5.5 percent, according to a report by CoreLogic released Tuesday.

The national real-estate research firm's report focuses on the delinquent mortgage market, with "delinquent" defined as being at least 30 days overdue.

Winston-Salem's metropolitan statistical area comprises Davidson, Davie, Forsyth, Stokes and Yadkin counties.

The rate was down from 6.3 percent in June 2016.

The delinquency rate is the second highest among the state's five urban areas.

The rate was 2 percent for mortgage payments more than 90 days past due, unchanged from May and down from 2.4 percent a year ago. Both figures include homes in the foreclosure pipeline.

The foreclosure rate in the Winston-Salem area was 0.5 percent, unchanged from May and down from 0.6 percent a year ago.

Economists say that housing markets and lenders are benefiting from more homeowners being able to stay current on their monthly mortgage payments, in part by an increase in employer hiring.

"The forecast for the coming year includes 5 percent home-price appreciation and further job growth, putting renewed downward pressure on mortgage delinquency rates." said Frank Nothaft, chief economist for CoreLogic.

For the Greensboro-High Point MSA, the 30-day delinquency rate was 5.8 percent, unchanged from May and down from 6.6 percent a year ago.

The delinquency rate of more than 90 days was 2.1 percent, unchanged from May and down from 2.6 percent a year ago.

For the Charlotte-Concord-Gastonia MSA, the 30-day delinquency rate was 4.7 percent, down from 5.7 percent a year ago. The more-than-90-day delinquency rate was 1.7 percent, down from 2.2 percent.

For the Durham-Chapel Hill MSA, the 30-day delinquency rate was 3.8 percent, down from 4.5 percent a year ago. The more-than-90-day delinquency rate was 1.6 percent, down from 2 percent from the year-earlier period.

For the Raleigh-Cary MSA, the 30-day delinquency rate was 3.4 percent, down from 3.9 percent a year ago. The more-than-90-day delinquency rate was 1.2 percent, down from 1.5 percent.

In North Carolina, the 30-day delinquency rate was 4.9 percent, down from 5.6 percent a year ago. The 90-day delinquency rate was 1.9 percent, down from 2.2 percent a year ago.

[email protected] 336-727-7376 @rcraverWSJ

© © Copyright 2017, Winston-Salem Journal, Winston-Salem, NC, source Newspapers

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Financials ($)
Sales 2017 1 857 M
EBIT 2017 247 M
Net income 2017 127 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 27,78
P/E ratio 2018 24,22
Capi. / Sales 2017 2,08x
Capi. / Sales 2018 2,01x
Capitalization 3 865 M
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 44,6 $
Spread / Average Target -2,8%
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Managers
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Frank D. Martell President, Chief Executive Officer & Director
Paul F. Folino Chairman
James L. Balas Chief Financial Officer
James David Chatham Independent Director
Thomas C. O'Brien Independent Director
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