Fewer D-FW and U.S. home loan holders ended last year with late payments
More D-FW homeowners were current on their mortgage payments at the end of 2021 than in 2020, according to a new report, as the economy continued to rebound.
Only 3.8% of mortgages in the region were 30 days or more past due in December, down from 6.4% a year earlier, according to new figures from CoreLogic. This figure is also slightly down from 4.1% in October.
Just 1.9% of D-FW mortgages were 90 days or more past due, compared to 4.3% at the end of 2020, CoreLogic found.
The national crime rate hit a new low in December at 3.4%. The data firm said improving employment figures and rising equity due to rising house prices helped more homeowners finish the current year on their mortgages.
“Non-farm employment grew by 6.7 million workers in 2021, the largest year-on-year increase, supporting income growth and allowing more families to stay current on their loans,” Frank Nothaft said. , chief economist at CoreLogic, in the report. “Nevertheless, places hit hard by natural disasters have seen an increase in missed payments.”
All but one US metro area has seen at least a slight annual decrease in late mortgage payments. Only the Houma-Thibodaux region in Louisiana, hit by Hurricane Ida in the fall, saw an unchanged crime rate in December. Still, the rate in this area saw improvements between October and November, CoreLogic found.
The D-FW foreclosure rate remained close to zero at 0.1%, unchanged from December 2020.
Among major Texas markets, Austin had the lowest rate of late home loan repayments, at just 2.3%. The Houston area had a late loan repayment rate of 4.7%, with San Antonio at 4.8%.