Friday, November 1, 2013

Corelogic: Colorado has 6th-lowest rate of series delinquencies among all states

According to Corelogic's national foreclosure report, released today, 2.3 percent of mortgages in Colorado were seriously delinquent during September 2013. Only five states reported lower delinquency rates, including North Dakota, South Dakota, Montana, Alaska, and Wyoming. 

The states with the highest delinquency rates were Florida, New Jersey, and Nevada. 

According to the report, Colorado had the third-smallest foreclosure inventory in the nation at 0.7 percent of all loans in foreclosure. Only Alaska and Wyoming reported smaller foreclosure inventories. Colorado was tied with Nebraska and North Dakota.

The report also measured foreclosure information for larger metro areas, including Denver-Aurora-Broomfield.

The Denver area showed the smallest foreclosure inventory of all the metro areas measured, and also showed the lowest rate of serious delinquency for all metro areas.

If we compare this Corelogic report to the MBA's second quarter 2013 report, we see that in the MBA report, Colorado has the ninth-lowest rate for 90-day delinquencies. So, Colorado is also near the bottom in the number of seriously-delinquent loans in that report as well. 

Although completed foreclosures continue at a significant pace in the state, according to our statewide report, the number is nevertheless way down from peak years and 2012, dropping 60 percent, year over year, through August.