Delinquent mortgages reach record low

By on October 12, 2017
Local Foreclosures Keep Dropping

Four point six percent of all U.S. mortgages in July were in some state of delinquency during July, a year-over-year decline of nearly one percent, according to data released Tuesday.

In the Inland Empire, 4.3 percent of all mortgage payments in July were overdue by at least 30 days, compared with 5.1 percent in July 2016, Irvine-based CoreLogic reported in its monthly analysis of mortgage delinquencies.

Also in the Inland region, mortgages in serious delinquency – 90 days or more past due – totaled 1.4 percent, down 0.5 percent year over year.

Nationwide, the foreclosure inventory rate – the share of mortgages in some state of foreclosure – was 0.7 percent. That was down from 0.9 percent one year earlier, but the lowest rate recorded since July 2007, when it was also 0.7 percent.

The foreclosure rate in Riverside and San Bernardino counties was virtually unchanged: 0.4 percent in July, 0.5 percent one year earlier, according to CoreLogic.