Q1 2013 MORTGAGE DELINQUENCY DATA RELEASED TODAY:
NEVADA LEADS THE NATION IN 90-DAY DELINQUENCY
A Total of 60,300 Mortgages Are Either Past Due or in Foreclosure
This morning the Mortgage Bankers Association released their national survey of mortgage delinquency data. From a national perspective, mortgage delinquencies increased as foreclosure inventory fell. States like Florida, California and Nevada were primary contributors to the decline in foreclosure inventory.
In Nevada, the data indicates that approximately 8.20 percent of all loans are past due, ranking as the 7th highest default rate in the country. However, approximately 5.19 percent of loans are 90 days or more past due in Nevada, the highest rate in the nation. Overall, Nevada reported 13.65 percent of loans either past due or in foreclosure, suggesting 60,300 homes are struggling to keep their loan current. The significant number of residential loans that continue to go unpaid limits the number of homes that should be transitioning into new hands. The latest data provides some insight into the lack of availability in the resale market impacting REALTORS and prospective home buyers.
The following provides a snapshot of key data points:
|
Delinquency Status |
Percent of Loans
|
National Ranking
|
|
30 Days |
2.13
|
43
|
|
60 Days |
0.89
|
31
|
|
90 Days or More |
5.19
|
1
|
|
Total Past Due |
8.20
|
7
|
|
In Foreclosure |
5.45
|
6
|
|
Total Past Due or In Foreclosure |
13.65
|
4
|
Kathi Soprano CDPE
www.lasvegashomesearch@gmail.com
http://lasvegashomesaver.com
(702)277-0075
