Local, national foreclosures remain low

By on October 12, 2019
Inland Empire Foreclosures Drop

Three point eight percent of all mortgages nationwide were in some stage of delinquency in July, according to data released Tuesday.

That was a 0.3 percent decline year over year, Irvine-based CoreLogic announced in its monthly Loan Performance Insights Reports.

“Delinquency” is defined as 30 days or more past due, including foreclosures.

Also in July, the foreclosure inventory rate – the share of mortgages in some stage of foreclosure  – was 0.4 percent, virtually unchanged from exactly one year earlier. That equaled the previous eight months as the lowest of any monthly foreclosure percentage since at least January 1999.

The serious delinquency rate – 90 days more overdue – was 1 percent. That was the lowest for any month since August 2005, when it was also 1.3 percent.

In the Inland Empire, 3.7 percent of all mortgages were in some state of delinquency in July, with one percent of those in serious delinquency. Both of those were essentially the same year over year.

The Inland region’s foreclosure rate was 0.3 percent, which was unchanged from July 2018, CoreLogic reported.