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Home Mortgage Foreclosure in May at Lowest in 12 Years

Home Mortgage Foreclosure in May at Lowest in 12 Years

CoreLogic is reporting that home mortgage foreclosure rates in May are at the lowest in 12 years.

In summary, they are reporting:

  • Early-Stage Delinquencies Drop 0.1 Percentage Points Year Over Year in May
  • California is Showing Loan Delinquency Rates Below the National Average
  • Florida was the Only State to Post an Annual Increase in Overall Delinquency Rate
  • Existing Mortgages at Risk in Regions Impacted By Current Wildfires

A strong economy has had a positive impact on mortgage foreclosure rates.  However, recent disastrous fires have had a negative impact on the national average foreclosure rate.  The Carr fire was specifically referenced as a contributor shared in this article.  Although California was showing loan delinquency rates below the national average, the local fires have added an extra burden to homeowners with loans.  A full loan performance report is available at Loan Performance.  The report shows that across the country, 4.2 percent of mortgages were 30 days or more past due.  This is the best average reported in 12 years.

The whole article is available at CoreLogic. 

If you are interested in discussing your home mortgage or looking to obtain a home mortgage, feel free to contact San Ramon Windemere Real Estate expert, Jason Kerner at 925-400-7007 or http://KernerHomes.com.

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Jason Kerner

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