Dallas-area late mortgage rates are continuing to decline, according to an article in the Dallas Morning News:
In May, 4.8 percent of local residents with a loan on their home were 90 days or more behind in their payments.
That’s down from 5.51 percent a year earlier and 6.08 percent in early 2010, researchers at CoreLogic Inc. said Wednesday.
The Dallas-area late loan level is slightly higher than the Texas average of 4.47 percent but significantly less than the nationwide delinquency rate of 7.29 percent, the California-based firm said.
The number of homeowners seriously behind in their payments has gone down in each of the last four months in the Dallas area.
Although more Dallas-area homeowners are keeping up with their payments, the percentage of homes actually in foreclosure inched up in May. CoreLogic found that 1.52 percent of homes were in foreclosure, compared with 1.45 percent in May 2010.
The nationwide foreclosure rate was also up slightly at 3.45 percent.