The first graph shows the 90-day delinquency rates since 2005:
30-day delinquencies for the fourth quarter of 2013 were at the lowest percentage recorded during any other fourth quarter in 8 years, dropping to 2.12 percent. The rate was 2.21 percent during the 3rd quarter of 2013, and it was 2.18 percent during the fourth quarter of 2012. A new low in 30-day delinquencies suggests more declines in foreclosure activity in Colorado, at least in the short term.
As can be seen in the first and third graph, Colorado's foreclosure inventory and 90-day delinquency rates are well below the national rates.
The U.S. foreclosure inventory rate was 2.86 percent during the fourth quarter of 2013.
Using the 90-day delinquency rate to compare Colorado to all other states, we find that Colorado had the seventh-lowest delinquency rate in the nation during the fourth quarter of 2013. The only states with lower 90-day delinquency rates were Idaho, North Dakota, South Dakota, Montana, Wyoming and Alaska. The lowest 90-day delinquency rate in the nation was found in North Dakota where it was 0.54 percent, and the highest rate was found in Nevada where it was 3.99 percent.
Delinquencies are measured by the MBA via surveys sent to major loan servicers. The MBA estimates it covers 88 percent of all first-lien residential mortgage loans outstanding in the US with the survey.