|
|
On junior-lien home loans, the rate of serious delinquency retreated 3 basis points compared to the previous month, came in 18 BPS better than a year ago, and sits near its lowest level in a decade.
During the month of June, the 90-day delinquency rate on secondary housing financing was 0.27 percent, according to the S&P/Experian Second Mortgage Default Index.
Last month’s serious delinquency rate on subordinate liens stood very near the lowest 90-day rate reported in the past 10 years.
Performance is based on Experian’s consumer credit database of $11 trillion in loans that is sourced from 11,500 lenders
One month earlier, the index, which was launched in 2010, stood higher at 0.30 percent, according to the report.
The improvement in second-mortgage performance was far more significant compared to 12 months earlier, when the index landed at 0.45 percent.
