Monday, Oct 23, 2017
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Real Estate

Late mortgage payments down

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Metro Toledo homeowners got better about making their mortgage payments in May, a new report said.

RELATED: Number of Toledo homeowners underwater rises

The rate for outstanding mortgages delinquent by at least 30 days (including loans in foreclosure) fell to 5.3 percent in May from 6 percent for the same month a year earlier, real estate data firm CoreLogic Inc. reported.

CoreLogic, based in Irvine, Calif., said that the rate for mortgages in “serious delinquency” — or at least 90 days past due — fell to 2.3 percent in May versus 2.8 percent a year ago. The foreclosure inventory rate, which measures homes in the foreclosure stages, was 0.9 percent in May, down from 1.1 percent a year ago.

Nationwide, the rate for mortgages at least 30 days past due was 4.5 percent in May, compared to 5.3 percent a year ago. The rate for home loans 90 days or more past due was at 2 percent, down from 2.6 percent in May, 2016. It marked the lowest rate for seriously delinquent loans since November, 2007, CoreLogic said.

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