According to CoreLogics latest late-mortgage report, 6.58% of Orange County home-loan borrowers as of March are 90 days-plus late with their house payments.
This 90-day delinquency number is seen as a key indicator of future mortgages woes as it captures patterns of property owners skipping house payments before the formal foreclosure process begins. This most recent reading for Orange County is down 1.36 percentage points ( or -17%) vs. a year ago.
Also in this report …
- Compare that Orange County rate of change in delinquency rate to the national movement in a year of -0.76 percentage points vs. a year earlier or -2.31 percentage points in California.
- Orange Countys 90-day delinquency rate first warning sign of payment troubles is -2.16 percentage points vs. the states slow-pay rate and -0.96 percentage points vs. national pace.
- 2.23% of Orange County homes in March were in the foreclosure process; -0.16 percentage points vs. a year earlier.
- 0.51% of Orange County homes in March were repossessed by banks as REO (real estate owned); +0.15 percentage points vs. a year earlier.
- At right is a table showing how Orange County mortgage troubles compare to state and national payment woes.
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