January 9, 2018

Fewer New Haven area homeowners late on mortgages in Oct.

cooldesign, FreeDigitalPhotos.net
cooldesign, FreeDigitalPhotos.net

Fewer homeowners in Greater New Haven fell behind on their mortgages in October, although the region's percentage of past due mortgages and foreclosures remained above the rest of the nation's, a new report shows.

Figures for the New Haven-Milford region show 6.6 percent of mortgages (including foreclosures) were at least 30 days delinquent in October, down from 7.1 percent in October 2016, according to the property analytics firm CoreLogic. Nationally, 5.1 percent of mortgages were at least 30 days behind in October, down from 5.2 percent in October 2016.

Greater New Haven mortgages in serious delinquency (90 days or more past due) totaled 2.9 percent in October, compared to 3.5 percent a year ago, the report said. Nationwide, the serious delinquency rate was 1.9 percent, down from 2.3 percent a year ago.

Meanwhile, the region's foreclosure inventory rate, which measures the share of mortgages in some stage of foreclosure, was 1.1 percent in October, down from 1.5 percent a year earlier.

The national foreclosure inventory rate has held steady at 0.6 percent since August, but dropped slightly from 0.8 percent a year ago, CoreLogic said.

Natalie Missakian can be reached at news@newhavenbiz.com

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