In October, the Consumer Fraud Protection Bureau unveiled its new Mortgage Performance Trend Report.  The report uses mortgage delinquency rates to help us understand the health of the mortgage market and, by extension, the overall economy.

The Mortgage Performance Trend Report looks at two different sets of data:

  1. Mortgages 30-89 days delinquent. The 30-89-day span is seen as an early indicator of the health of the mortgage market. It captures borrowers who have missed one or two payments. The report covers trends from 2008 to the present.

CFPB1

  1. Mortgages 90 days or more delinquent. The 90+ day data gives us a picture of deeper economic distress. It captures borrowers who have missed three or more payments. Again, the data in this report goes back to 2008.

CFPB2

Both reports allow readers to break down interactive data a number of ways:

  • Comparing mortgage delinquency rates by year on a national, state, metro, non-metro and county basis.
  • Comparing delinquency rates on a month-to-month basis across states, metro, non-metro and county basis.

Upon releasing the new report, former CFPB Director Richard Cordray said:

“Measuring the number of consumers who have fallen behind on their mortgage payments is a telling barometer of the health of mortgage markets locally and nationally.  This rich information source identifies mortgage delinquency rates down to the county and metro-area level, making it a useful public tool.”

We will continue to monitor the report and post changes on a periodic basis.