Fewer and fewer Utah homeowners are having trouble paying their mortgage payments, according to information released this month by property information and analytics firm CoreLogic. In the Salt Lake City market, 2.9 percent of mortgages were delinquent by at least 30 days (including those in foreclosure) in August compared with 3.4 percent in August 2016, according to CoreLogic’s Loan Performance Insights Report.
Local mortgages in serious delinquency (90-plus days past due) totaled 0.9 percent in August compared with 1.3 percent in August 2016. The foreclosure inventory rate for this August was 0.2 percent compared with 0.3 percent a year earlier.
Nationally, 4.6 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in August. This represents a 0.6 percentage point year-over-year decline in the overall delinquency rate compared with August 2016 when it was 5.2 percent.
In August the national foreclosure inventory rate was 0.6 percent, down from 0.9 percent in August 2016. This was the lowest foreclosure inventory rate for the month of August in 11 years, since August 2006 when it was 0.5 percent.