Wednesday, November 23, 2011

Colorado 8th best in nation for foreclosures and delinquent loans

During the third quarter of 2011, only seven states reported lower percentages of mortgage loans that were were either in foreclosure or were 90 days delinquent. According to the third quarter's national delinquency survey, released last week by the Mortgage Bankers Association, the percentage of mortgage loans in Colorado that are either in foreclosure or are either 90-days delinquent, was 4.22 percent. Nationally, the rate was 7.89 percent. Only Nebraska, Virginia, Alaska, Montana, Wyoming and the Dakotas reported a delinquency/foreclosure rate that was lower than Colorado's.

The graph shows the the percentage of loans that are either in foreclosure or 90+ days delinquent in both the US and in Colorado over the past six years. The foreclosure/90-day delinquency measure has decreased in both the US and in Colorado for every quarter since the fourth quarter of 2009.

At the same time, Colorado has continued to compare more favorably to more and more states over time. This has been due to the number of states that have continued to report growth in delinquencies and foreclosures while Colorado's rate has declined.

More analysis to come after the long weekend.