February 13, 2018

Fewer New Haven area homeowners late on mortgages in Nov.

cooldesign, FreeDigitalPhotos.net
cooldesign, FreeDigitalPhotos.net

Fewer Greater New Haven homeowners fell behind on their mortgages in November than they did a year ago, although the region's percentage of late mortgages and foreclosures still surpasses state and national averages, a new report shows.

Figures for the New Haven-Milford region show 6.7 percent of mortgages (including foreclosures) were at least 30 days delinquent in November, down from 7.3 percent in November 2016, according to property analytics firm CoreLogic.

Statewide, 5.7 percent of mortgages were delinquent in November, down from 6.3 percent the previous year. Meanwhile the nation as a whole saw 5.1 percent of mortgages at least 30 days behind in November, a slight dip from 5.2 percent the previous year.

The region's foreclosure inventory rate, which measures the share of mortgages in some stage of foreclosure, was 1.1 percent, down from 1.5 percent a year ago and slightly higher than Connecticut's foreclosure inventory rate of 1 percent.

The national foreclosure inventory rate was 0.6 percent, down from 0.8 percent in November 2016, CoreLogic said.

Greater New Haven mortgages in serious delinquency (90 days or more past due) totaled 2.9 percent in November, down from 3.5 percent a year ago.

Natalie Missakian can be reached at news@newhavenbiz.com

Free E-Newsletter

Sign up now for our New Haven Biz
e-newsletter! Click Here

Subscribe to print for free

Premier issue coming in October. Click here to subscribe

Copyright 2018 New England Business Media