Research & Publications

Mortgage Performance Summaries

 

House

This series of reports, produced by the Richmond Fed's Research Department, provides state-level analyses of housing markets, and the composition and performance of mortgage markets in the Fifth District.

 

Fifth District


2014

Update: Second Quarter 2014

Foreclosure and delinquency rates in the Fifth District declined in the second quarter of 2014 and on a year-over-year basis.

Update: First Quarter 2014

In the first quarter of 2014, both the foreclosure and 90+ day delinquency rate in the Fifth District edged lower for the seventh consecutive quarter.

2013

Update: Fourth Quarter 2013

Both the share of mortgages in foreclosure and the 90+ day delinquency rate in the Fifth District continued to fall in the fourth quarter of 2013.

Update: Third Quarter 2013

Fifth District foreclosure rates continued to decline in the third quarter while delinquency rates mostly held steady.

Update: Second Quarter 2013

Fifth District mortgage markets improved in the second quarter, with both foreclosure and delinquency rates falling.

Update: First Quarter 2013

Foreclosure and delinquency rates in the Fifth District declined since the fourth quarter of 2012 and on a year-over-year basis.

2012

Update: Fourth Quarter 2012

Foreclosure activity in the Fifth District slowed in the fourth quarter, with decreases in both the prime and subprime foreclosure rates.

Update: Third Quarter 2012

The Fifth District mortgage foreclosure rate ticked up slightly since the third quarter of 2011, although the 90+ day delinquency continued its year-over-year decline. 

Update: Second Quarter 2012

The share of mortgages in foreclosure in the Fifth District rose slightly in the last year, with both prime and subprime mortgage foreclosure rates increasing.

Update: First Quarter 2012

Fifth District foreclosure activity held steady in the first quarter, although it rose slightly since the first quarter of 2011.

2011

Update: Fourth Quarter 2011

Foreclosure activity in the Fifth District picked up slightly but was relatively steady over 2011.

Update: Third Quarter 2011

The mortgage foreclosure rate in the Fifth District rose slightly in the third quarter, with increases in the prime and subprime foreclosure inventories.

Update: Second Quarter 2011

The percentage of mortgages in foreclosure in the Fifth District held steady at a record level in the second quarter of 2011 after two periods of increase.

Update: First Quarter 2011

The percent of mortgages in foreclosure continued to rise in the first quarter of 2011, while delinquency rates abated or held steady across the Fifth District.

Maryland/District of Columbia


2014

Update: Second Quarter 2014

In the second quarter of 2014, both the foreclosure and 90+ day delinquency rate in D.C. declined over the preceding year. In Maryland, both rates declined in the quarter and since the second quarter of 2013.

Update: First Quarter 2014

The foreclosure rate in Maryland and D.C. fell in the first quarter of 2014 and over the prior year while the 90+ day delinquency rate also declined on a year-over-year basis in both places.

2013

Update: Fourth Quarter 2013

Both the foreclosure rate and the 90+ day delinquency rate in Maryland and D.C. declined on a year-over-year basis in the fourth quarter.

Update: Third Quarter 2013

Reports from mortgage markets in Maryland and D.C. indicated some improvement in foreclosure and delinquency rates over the year.

Update: Second Quarter 2013

According to the data used most frequently in these summaries, foreclosure and delinquency rates continued to decline in the District of Columbia and in Maryland in the second quarter. However, recent trends in default rates vary somewhat for Maryland by data source, with certain data indicating a slight increase in the foreclosure rate, though most still indicate a decline from the beginning of 2012.

Update: First Quarter 2013

Both the percentage of mortgages in foreclosure in Maryland and D.C.’s 90+ day delinquency rate increased since the first quarter of 2012.

2012

Update: Fourth Quarter 2012

In the fourth quarter of 2012, mortgage foreclosure rates continued to rise in Maryland and decline in the District of Columbia on a year-over-year basis.

Update: Third Quarter 2012

The percentage of mortgages in foreclosure in Maryland rose over the year, while the foreclosure rate in the District of Columbia declined since the third quarter of 2011.

Update: Second Quarter 2012

In Maryland and the District of Columbia, default and delinquency rates generally rose since June 2011, although the Maryland 90+ day delinquency rate fell slightly over the year.

Update: First Quarter 2012

Foreclosure and delinquency rates in Maryland and the District of Columbia continued to rise on a year-over-year basis in the first quarter of 2012.

2011

Update: Fourth Quarter 2011

On the whole, foreclosure and delinquency rates in Maryland and the District of Columbia rose over 2011.

Update: Third Quarter 2011

Foreclosure and delinquency rates in Maryland and DC generally picked up again in the third quarter and continued to rise on a year-over-year basis.

Update: Second Quarter 2011

Foreclosure and delinquency rates in Maryland and the District of Columbia held steady in the second quarter of 2011, although they continued to rise on a year over year basis.

Update: First Quarter 2011

Foreclosure rates in Maryland held steady in the first quarter of 2011, while foreclosure rates in the District of Columbia have continued to climb.

2010

Update: Fourth Quarter 2010

Mortgage delinquency rates in Maryland and the District of Columbia declined in the fourth quarter of 2010, although mortgage foreclosure rates rose on a quarterly and year-over-year basis.

Update: Third Quarter 2010

Mortgage delinquency and foreclosure rates in Maryland and D.C. changed only slightly in the third quarter of 2010, although rates continue to increase on a year-over-year basis.

Update: Second Quarter 2010

Although default rates continue to climb on a year-over-year basis, there is preliminary evidence that delinquency and foreclosure rates in Maryland and the District of Columbia started to plateau or decline in the first half of 2010.

Update: First Quarter 2010

There is preliminary evidence that delinquency and foreclosure rates in Maryland and the District of Columbia started to plateau or decline in recent months, although default rates continue to climb on a year-over-year basis.

2009

Update: Fourth Quarter 2009

The rise in mortgage foreclosure in Maryland and the District of Columbia began to flatten in recent months, although default rates remain high and the climb in serious delinquencies has not abated.

Update: Third Quarter 2009 

Mortgage default rates continue to rise in the Maryland/D.C. area as delinquency and foreclosure rates in the suburbs of Washington, D.C. remain some of the highest in the region.

Update: Second Quarter 2009 

Mortgage delinquencies and foreclosures continue to increase in Maryland and in the District of Columbia, although rates continue to trail below those of the nation.

2008

Fourth Quarter 2008

Mortgages have generally performed better in Maryland and the District of Columbia than other markets, though both areas have faced challenges.

North Carolina


2014

Update: Second Quarter 2014

Both the foreclosure and 90+ day delinquency rates in North Carolina declined in the second quarter of 2014 and since the second quarter of the prior year.

Update: First Quarter 2014

Both the foreclosure and 90+ day delinquency rates, in the prime and subprime markets, decreased in North Carolina in the first quarter of 2014 and over the preceding year.

2013

Update: Fourth Quarter 2013

The foreclosure rate in North Carolina declined over the quarter and since the fourth quarter of 2012 while the 90+ day delinquency rate was unchanged in the quarter but improved over the year.

Update: Third Quarter 2013

The foreclosure rate in North Carolina fell sharply from the third quarter of 2012. The delinquency rate also declined over the period.

Update: Second Quarter 2013

Foreclosure and delinquency rates in North Carolina continued to hold steady or decline in the second quarter, indicating strengthening mortgage market conditions in the state.

Update: First Quarter 2013

For the second straight quarter, mortgage foreclosure and delinquency rates in North Carolina declined on a year-over-year basis.

2012

Update: Fourth Quarter 2012

Mortgage delinquency and foreclosure rates fell over the year in North Carolina, although the share of delinquent mortgages rose from the third quarter to the fourth quarter of 2012.

Update: Third Quarter 2012

Mortgage foreclosure in North Carolina declined on a year-over-year basis in the third quarter of 2012. Meanwhile the 90+ day delinquency rate held steady.

Update: Second Quarter 2012

The North Carolina foreclosure rate rose somewhat in recent months, although delinquency rates edged down.

Update: First Quarter 2012

Overall, North Carolina foreclosure activity continued to rise on a year-over-year basis in the first quarter, despite a slight decrease in delinquency.

2011

Update: Fourth Quarter 2011

Foreclosure and delinquency rates in North Carolina held steady or rose slightly in 2011, although other areas of housing and labor markets exhibited signs of recovery.

Update: Third Quarter 2011

The share of North Carolina mortgages in foreclosure continued to rise in the third quarter, although the delinquency rate held steady in the quarter and fell on a year-over-year basis.

Update: Second Quarter 2011

The share of delinquent loans in North Carolina fell over the last year, while the foreclosure rate continued to climb. House prices continued their decline on a year-over-year basis.

Update: First Quarter 2011

Delinquencies in North Carolina fell over the year ending March 2011, while foreclosure rates continued to rise in the state.

2010

Update: Fourth Quarter 2010

Data on mortgage delinquency in North Carolina indicate improvement in the fourth quarter, although foreclosure rates continued to climb on a quarterly and year-over-year basis.

Update: Third Quarter 2010

Data on mortgage delinquency in North Carolina indicate improvement in recent months, although foreclosure rates continue to climb on a year-over-year basis.

Update: Second Quarter 2010

Data on delinquency and foreclosure in North Carolina indicate some improvement in recent months, although default rates continue to climb on a year-over-year basis.

Update: First Quarter 2010

Despite continued house price declines in North Carolina, state data indicate some improvement in default rates in recent months.

2009

Update: Fourth Quarter 2009 

Foreclosure and delinquency rates in North Carolina remain below those in the nation, although they continue to rise as house prices declines escalate.

Update: Third Quarter 2009 

Mortgage foreclosure and delinquency rates in North Carolina remain below their national counterparts, although the state's recent decline in house prices and its persistently high unemployment rate indicate that defaults will continue to grow for some time.

Update: Second Quarter 2009

Mortgage defaults continue to rise in North Carolina as year-over-year house prices fell in the second quarter for the first time in the state's history.

First Quarter 2009

North Carolina mortgages are still performing relatively well, although weakened labor market conditions have created additional challenges in the state.

South Carolina


2014

Update: Second Quarter 2014

The South Carolina foreclosure rate declined in the second quarter of 2014 and on a year-over-year basis while the 90+ day delinquency rate fell in the quarter but was unchanged since the second quarter of 2013.

Update: First Quarter 2014

In the first quarter of 2014, the foreclosure rate in South Carolina fell from the previous year while the 90+ day delinquency rate ticked down slightly.

2013

Update: Fourth Quarter 2013

The mortgage market continued to improve in South Carolina with both the foreclosure and delinquency rates improving since the fourth quarter of 2012.

Update: Third Quarter 2013

South Carolina total foreclosure and delinquency rates declined moderately since the third quarter of 2012, with considerable improvement in subprime foreclosure and delinquency rates.

Update: Second Quarter 2013

South Carolina foreclosure and delinquency rates fell in the second quarter and over the preceding year, a further manifestation of improved housing conditions in the state.

Update: First Quarter 2013

Between the first quarters of 2012 and 2013, the share of homes in foreclosure in South Carolina fell while the state’s 90+ day delinquency rate remained the same.

2012

Update: Fourth Quarter 2012

While the mortgage foreclosure rate in South Carolina declined over the year, the delinquency rate held steady since the fourth quarter of 2011.

Update: Third Quarter 2012

The share of delinquent mortgages in South Carolina declined since the third quarter of 2011, while the share of mortgages in foreclosure remained unchanged.

Update: Second Quarter 2012

The South Carolina foreclosure rate rose somewhat in recent months, although delinquency rates edged down.

Update: First Quarter 2012

Although delinquency rates in South Carolina declined since the first quarter of 2011, foreclosure activity continued to expand. 

2011

Update: Fourth Quarter 2011

Foreclosure rates in South Carolina rose in 2011, although housing markets exhibited some positive signs, with delinquency rates ending the year lower than they were in 2010.

Update: Third Quarter 2011

Although the share of delinquent mortgages in South Carolina declined in the third quarter, the foreclosure rate rose both in the quarter and over the preceding year.

Update: Second Quarter 2011

The percent of delinquent loans in South Carolina fell year-over-year, while the foreclosure rate climbed. House prices have continued to fall on a year-over-year basis. 

Update: First Quarter 2011

Prime and subprime foreclosure rates continue to climb in South Carolina, while delinquency rates continue to fall on a year-over-year basis.

2010

Update: Fourth Quarter 2010

Mortgage delinquency and foreclosure rates in South Carolina showed improvement in 2010, although the prime default rate continues to rise on a year-over-year basis.

Update: Third Quarter 2010

Mortgage delinquency and foreclosure rates in South Carolina generally have started to plateau or come down somewhat in recent months

Update: Second Quarter 2010

Delinquency and foreclosure rates in South Carolina started to come down somewhat in recent months, though default rates are still rising on a year-over-year basis.

Update: First Quarter 2010

Although default rates are still rising on a year-over-year basis, delinquency and foreclosure rates in South Carolina showed some signs of improvement in recent months.

2009

Update: Fourth Quarter 2009 

South Carolina foreclosure and delinquency rates remain below national rates, although the number of delinquent homeowners continues to grow.

Update: Third Quarter 2009 

Mortgage default rates in South Carolina continue to rise as the unemployment rate remains high and house prices continue to decline.

Update: Second Quarter 2009

Mortgage delinquencies and foreclosures continue to rise as South Carolina experiences one of the largest increases in unemployment in the nation and house prices begin to decline.

First Quarter 2009

South Carolina mortgages are performing generally better than those in other markets, although labor market conditions have created additional challenges in the state.

Virginia


2014

Update: Second Quarter 2014

The foreclosure rate in Virginia was unchanged in the second quarter of 2014 but declined over the preceding year while the 90+ day delinquency rate fell over both periods.

Update: First Quarter 2014

Both the foreclosure and 90+ day delinquency rates in Virginia fell further in the first quarter of 2014 and on a year-over-year basis and remain some of the lowest in the country.

2013

Update: Fourth Quarter 2013

The foreclosure rate in Virginia is one of the lowest in the nation and continued to improve in the fourth quarter. The 90+ day delinquency rate also declined further over the year.

Update: Third Quarter 2013

The Virginia foreclosure rate in the third quarter of 2013 was half of the rate in the third quarter of 2012. The state’s 90+ day delinquency rate also declined over the period.

Update: Second Quarter 2013

Recent data show that foreclosure and delinquency rates in Virginia came down in the second quarter, indicating improving conditions in state housing markets.

Update: First Quarter 2013

Although the delinquency rate in Virginia inched up since March 2012, the state’s mortgage foreclosure rate declined over the year.

2012

Update: Fourth Quarter 2012

The share of delinquent mortgages in Virginia remained unchanged since December 2011, while the share of mortgages in foreclosure fell over the year.

Update: Third Quarter 2012

Mortgage delinquency in Virginia ticked up slightly over the year, although the foreclosure rate remained below its third quarter of 2011 level as conditions improved in the subprime mortgage market.

Update: Second Quarter 2012

Mortgage market conditions did not change notably over the past year in Virginia, with foreclosure and delinquency rates holding relatively steady.

Update: First Quarter 2012

On the whole, housing conditions were more upbeat in Virginia, with foreclosure activity holding steady and delinquency declining from the first quarter of 2011.

2011

Update: Fourth Quarter 2011

Foreclosure rates rose in Virginia in 2011, but there were signs of recovery in the state, with delinquency rates declining slightly in the year.

Update: Third Quarter 2011

The share of mortgages in foreclosure and delinquency in Virginia picked up in the third quarter, although the delinquency rate continued to fall on a year-over-year basis.

Update: Second Quarter 2011

Foreclosure rates in Virginia climbed on a year-over-year basis, while delinquency rates fell. The unemployment rate in Virginia remains high for the state in June 2011.  

Update: First Quarter 2011

Delinquency rates have continued to fall in Virginia in the first quarter of 2011, while foreclosure rates are still increasing on a year-over-year basis.

2010

Update: Fourth Quarter 2010

The 2010 decline in Virginia mortgage delinquency rates continued into the fourth quarter, although foreclosure rates are still rising on a quarterly and year-over-year basis.

Update: Third Quarter 2010

Mortgage delinquency and foreclosure rates in Virginia continued to plateau, or even decline, in the third quarter of 2010.

Update: Second Quarter 2010

There is preliminary evidence that delinquency and foreclosure rates in Virginia started to decline in the second quarter of 2010, although default rates continue to climb on a year-over-year basis.

Update: First Quarter 2010

Although record numbers of homes in Virginia remain in foreclosure, there is evidence that delinquency and default rates in the state started to plateau or even decline in the first quarter of 2010.

2009

Update: Fourth Quarter 2009 

The rise in mortgage foreclosure in Virginia began to flatten somewhat in recent months, although the increase in serious delinquency has not abated.

Update: Third Quarter 2009 

Mortgage delinquency and foreclosure rates continue to rise in Virginia, although mortgages in the Commonwealth are generally performing better than the national average.

Update: Second Quarter 2009 

Mortgage delinquencies and foreclosures continue to increase in Virginia, and Northern Virginia housing markets remain some of the weakest in the state.

2008

Fourth Quarter 2008

Mortgages in Virginia are performing relatively well, with default rates in the Commonwealth trailing below those of the nation.

Executive Summary of Findings

West Virginia


2014

Update: Second Quarter 2014

In the second quarter of 2014, the West Virginia foreclosure rate declined on a year-over-year basis while the 90+ day delinquency rate rose in the quarter and since the second quarter of 2013.

Update: First Quarter 2014

The foreclosure rate in West Virginia fell in the first quarter of 2014 and over the prior year while the 90+ day delinquency rate was unchanged from the first quarter of 2013.

2013

Update: Fourth Quarter 2013

Since the fourth quarter of 2012, both the foreclosure and the 90+ day delinquency rates improved in West Virginia.

Update: Third Quarter 2013

In the past year, the West Virginia foreclosure rate fell modestly while the delinquency rate remained unchanged.

Update: Second Quarter 2013

Foreclosure and delinquency rates in West Virginia declined further in the second quarter.

Update: First Quarter 2013

For the third consecutive quarter, the share of mortgages in foreclosure in West Virginia fell on a year-over-year basis. The delinquency rate in the state also declined since the first quarter of 2012.

2012

Update: Fourth Quarter 2012

The foreclosure rate in West Virginia continued to decline on a year-over-year basis, while the delinquency rate held steady since the fourth quarter of 2011.

Update: Third Quarter 2012

Reports on the West Virginia mortgage market were upbeat in the third quarter of 2012, with year-over-year decline in mortgage delinquency and foreclosure.

Update: Second Quarter 2012

Although foreclosure rates in West Virginia rose slightly over the year, delinquency rates continued their downward trend.

Update: First Quarter 2012

Household conditions in West Virginia improved recently, as the state reported declining mortgage foreclosure activity and delinquency since the first quarter of 2011.

2011

Update: Fourth Quarter 2011

Although the foreclosure rate in West Virginia rose slightly in 2011, delinquency rates in the state declined over the year.

Update: Third Quarter 2011

Foreclosure and delinquency rates in West Virginia generally held steady in the third quarter, although on year-over-year basis, the delinquency rate continued to decline and the foreclosure rate continued to rise.

Update: Second Quarter 2011

Delinquency rates in West Virginia started to fall in recent months, although foreclosure rates continued to climb on a year-over-year basis. West Virginia continues to see declining home values.

Update: First Quarter 2011

Delinquency rates in West Virginia have continued to fall in 2011. Recent data indicates that foreclosure rates in West Virginia have also started to decline in recent months.

2010

Update: Fourth Quarter 2010

Recent data indicate that mortgage delinquency rates in West Virginia continued to plateau or even decline in the fourth quarter of 2010, although the rise in foreclosure rates was unabated.

Update: Third Quarter 2010

Recent data indicate that some mortgage delinquency and foreclosure rates in West Virginia started to plateau, or even decline, in the third quarter of 2010, although rates continue to climb on a year-over-year basis.

Update: Second Quarter 2010

Recent data indicate that delinquency and foreclosure rates in West Virginia might have started to plateau or even decline in recent months. Nonetheless, default rates continue to rise on a year-over-year basis.

Update: First Quarter 2010

Default rates in West Virginia continue to rise on a year-over-year basis, although recent data indicate that delinquency and foreclosure rates might have reached a plateau, or even started to decline.

2009

Update: Fourth Quarter 2009 

West Virginia foreclosure and delinquency rates remain below national levels, but continue to rise as house values depreciate and unemployment increases persist.

Update: Third Quarter 2009 

Mortgage default rates continue to rise in West Virginia -- particularly in those areas most closely connected to Maryland, Virginia, and the District of Columbia -- although foreclosure and delinquency rates in the Mountain state remain below national marks.

Update: Second Quarter 2009 

Mortgage delinquencies and foreclosures continue to rise in West Virginia, although rates remain below those of the nation as a whole.

First Quarter 2009 

Housing and labor market conditions in West Virginia are mixed. The state's weakest housing markets are those closely connected with markets in Northern Virginia, Maryland, and the District of Columbia.

The views expressed in the Mortgage Performance Summaries are those of the contributors and not necessarily of the Federal Reserve Bank of Richmond or the Federal Reserve System.

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