Foreclosures stayed down in July

By on October 13, 2018
Inland Empire Foreclosures Down

Four point one percent of all U.S. mortgages were in some state of delinquency in July, a slight year-over-year drop, according to data.

The national foreclosure inventory rate of 0.5 percent was unchanged from the three previous months and virtually the same as one year earlier, Irvine-based CoreLogic reported in its monthly assessment of U.S. loan performance.

It was also the lowest foreclosure inventory rate for July since 2006.

Serious delinquencies, meaning anything 90 days or more past due, including loans in foreclosure, – were at 1.6 percent in July 2018, down from 1.9 percent in July 2017.

That was the lowest serious delinquency rate in July since 2006, when that number was 1.4 percent. It was also the lowest for any month since June 2007 when it was also 1.6 percent.

In the Inland Empire, the serious delinquency rate in July was 1.1 percent, down from 1.5 percent year-over-year.

The Inland regions foreclosure rate in July was a minuscule 0.3 percent, essentially unchanged compared with July 2017, according to CoreLogic.