No monthly change was recorded for the non-current rate on mortgages. But serious delinquency intensified due to deterioration in areas impacted by hurricanes.
Single-family loan delinquency of at least 30 days, including the foreclosure inventory, finished November 2017 at 5.1 percent.
While there was no change in mortgage delinquency from the previous month, the rate has improved from the same month in 2016, when it was 5.2 percent.
Those data were detailed by CoreLogic Inc. Tuesday.
At
9.9 percent, Florida’s non-current rate was the highest in the nation. Mississippi followed with 8.8 percent, then Louisiana’s 8.1 percent, New York’s 6.9 percent and New Jersey’s 6.8 percent.
Colorado and North Dakota shared the lowest rate: 2.1 percent.
Tucked away in the Nov. 30, 2017, non-current rate was a
2.0 percent U.S. 90-day rate, worsening from 1.9 percent one month earlier.
“Serious delinquency rates are up sharply in Texas and Florida compared with a year ago, while lower in all other states except Alaska. In Puerto Rico, the serious delinquency rate jumped to 6.3 percent in November, up 2.7 percentage points compared with a year before,” CoreLogic Chief Economist Dr. Frank Nothaft said in the report. “In the Miami metropolitan area, serious delinquency was up more than one-third from one year earlier to 5.1 percent, and it more than doubled to 4.6 percent in the Houston area.”
The U.S. foreclosure inventory rate accounted for 0.6 percent of the overall non-current rate. The foreclosure rate has been unchanged since August 2017 — though it was still the lowest rate since June 2007 when it also stood at 0.6 percent. Foreclosures were 0.8 percent in November 2016.
In New York, the foreclosure rate was 1.9 percent, the highest of any state. Next was New Jersey’s 1.6 percent,
then Maine’s 1.3 percent, Hawaii’s 1.2 percent and the District of Columbia’s 1.1 percent.
At just 0.1 percent, Colorado had the lowest foreclosure rate of any state.
