January 9, 2018

Fewer Hartford area homeowners late with mortgages in Oct.

cooldesign, FreeDigitalPhotos.net
cooldesign, FreeDigitalPhotos.net

Fewer Hartford area homeowners were late paying their mortgages in October, an improvement that mirrored national data, according to the latest report from CoreLogic.

In the region, about 5 percent of mortgages were delinquent by at least 30 days (including those in foreclosure) in October 2017 compared with 5.6 percent in the year-ago period. Only 2.1 percent of mortgages were in serious delinquency (90-plus days past due) in October, compared with 2.6 percent in the year-ago period.

The foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, also dropped to 0.8 percent in October compared with 1.1 percent a year earlier.

Nationally, the delinquency rate dropped to 5.1 percent in October from 5.2 percent a year ago. The foreclosure inventory rate was 0.6 percent, a slight drop from 0.8 percent, the property analytics firm said.

The temporary rise in September's early-stage delinquencies across the U.S. reflected the impact of the hurricanes in Texas, Florida and Puerto Rico, but that subsided in October, said Dr. Frank Nothaft, chief economist for CoreLogic.

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