Mortgage delinquency rate drops in Colorado and Nationwide

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Mortgage delinquencies on homes in Colorado dropped in third quarter 2012, The state of Colorado currently has one of the lowest rates residential foreclosure rates nationally, according to the American Bankers association. The current delinquency rate of 5.04% and the number of foreclsoures starts fell to .57% during the quarter , and the number of homes in foreclosure is at 1.66% which has also dropped

The delinquency rate was recently at 5.68 percent at the end of the second quarter, so the current rate in the third quarter is .6 better.

However, the delinquency rate for subprime adjustable rate mortgages in the state jumped by a half percent to 15.73 percent. Suprime fixed rate delinquency has also increased by nearly half a percent to 14.53%

Nationally, the delinquency rate for mortgage loans on residential properties fell to 7.40 percent from 7.58 percent the previous quarter.

Colorado is ranked 44th in delinquencies and 42nd in foreclosure starts as reported by the mortgage lenders association. Mississippi ranked the highest in delinquencies at 13.1 percent of all residential mortgages.

The state previously ranked 42nd in delinquencies at the end of the second quarter 2Q.

Read more: Mortgage delinquency rate drops in Colorado, nation – The Denver Post http://www.denverpost.com/2012/11/15/mortgage-delinquency-rate-drops-in-colorado-nation/#ixzz2CabMgwXA
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