IE mortgage delinquencies drop slightly
Three point six percent of mortgages in the Inland Empire were in some stage of delinquency – at least 30 days past due – in October, a slight year-over-year decrease, according to data released Tuesday.
Of those, one percent were in serious delinquency – 90 days or more past due – unchanged from October 2018, CoreLogic in Irvine reported in its monthly Loan Performance Insights Report.
The region’s foreclosure rate was 0.3 percent, also unchanged from one year earlier.
Nationwide, 3.7 percent of mortgages were in delinquency, including foreclosures, in October. That was a 0.4 percentage point decline in the delinquency rate compared with October 2018, when it was 4.1 percent.
Also in October 2019, the foreclosure inventory rate – which measures the share of mortgages in some stage foreclosure – was 0.4 percent, virtually unchanged compared with the previous year. The October 2019 foreclosure inventory rate tied the prior 11 months as the lowest for any month since at least January 1999, according to CoreLogic.