Mortgage Delinquencies Decline Locally in June
YOUNGSTOWN, Ohio — A new report by CoreLogic, a California-based data analytics company, finds 7.3% of mortgages in the Youngstown-Warren-Boardman area were delinquent by at least 30 days in June compared with 8.1% in June 2016.
Mortgages in serious delinquency in the region, defined as 90-plus days past due, totaled 3.2% in June compared with 4.0% in June 2016. The foreclosure inventory rate this June was 1.1% compared with 1.5% a year earlier.
Nationally, 4.5% of mortgages were in some state of delinquency during June, meaning they were 30 days or more past due including those in foreclosure. This represents a 0.8% decline in the overall delinquency rate compared to June 2016 when it was 5.3%, according to CoreLogic.
Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market, the company noted.
Copyright 2017 The Business Journal, Youngstown, Ohio.
Published by The Business Journal, Youngstown, Ohio.
CLICK HERE to subscribe to our print edition and sign up to our free daily headlines.