National, local mortgage rates remain flat

Three point seven percent of all mortgages in the United States were in some state of delinquency in August, including foreclosures, a modest year-over-year decline, according to data released Tuesday.

The foreclosure inventory rate – which measures the number of mortgages in some phase of foreclosure – was 0.4 percent, virtually unchanged from August 2018, CoreLogic in Irvine reported.

For 10 consecutive months, the national foreclosure inventory rate has been 0.4 percent, its lowest rate since January 1999.

The rate for early-stage delinquencies –  30 to 59 days past due – was 1.8 percent in August 2019, unchanged from August 2018.  Mortgages 60 to 89 days past due in August was 0.6 percent, also unchanged from August 2018. 

The serious delinquency rate – 90 days or more past due, including foreclosures – was 1.3 percent in August, a slight drop from August 2018.

In the Inland Empire, 3.6 percent all mortgages were delinquent in August, virtually unchanged from one year earlier. Serious delinquencies – one percent – and foreclosures – 0.3 percent – both remained the same from August 2018, according to CoreLogic.