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Mortgage delinquencies rise

Six-point one percent of U.S. mortgages were in some state of delinquency – 30 days or more past due, including foreclosures – in October, according to data.

That was a 2.4 percent increase in the overall delinquency rate from October 2019, when the rate was 3.7 percent, Irvine-based CoreLogic reported in its monthly assessment of loan delinquencies.

Adverse delinquencies – 60 to 89  days past due – were at 0.6 percent, unchanged from October 2019. Serious delinquencies – 90 days or more past due – were at 4.1 percent, an increase of 1.3 percent year-over-year.

All of those numbers include foreclosures. The nationwide foreclosure inventory rate was 0.3 percent, virtually unchanged from exactly one year earlier.

“After a financially challenging year, the healthy housing market and new stimulus measures are helping borrowers get back on their feet,” said Frank Martell, CoreLogic spokesman, in the statement “Given these variables, we should begin to see a reduced flow of homes in delinquency in the coming months.”

In the Inland Empire, 6.5 percent of all mortgages were delinquent in October, up from 3.6 in October 2019. Serious delinquencies were at 4.3 percent, up from one percent.

The region’s foreclosure rate was 0.2 percent, virtually unchanged year-over-year, CoreLogic reported.

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