Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Kristen Leigh Painter.

Twin Citians falling behind on mortgage payments at less than half the national rate

Posted by: Jim Buchta under Foreclosures Updated: July 23, 2014 - 9:05 AM

As I reported in a story in the Sunday paper, mortage foreclosures are nearing pre-recession levels, giving house prices a major boost. This week, CoreLogic gives us another glimpse into the situation with a report on mortgage delinquencies, which have been steadily falling since the beginning of the economic recovery. In May, the delinquency rate was nearly a full percentage point lower than last year and nearly half the national average - just 2.37 percent of all mortgages were 90 days or more late compared with 4.44 percent nationwide.  

Minneapolis-St. Paul-Bloomington, MN 90+ Day Delinquency Rate Foreclosure Rate
May 2014 2.37% 0.52%
April 2014 2.43% 0.53%
March 2014 2.49% 0.55%
February 2014 2.60% 0.61%
January 2014 2.67% 0.66%
December 2013 2.73% 0.72%
November 2013 2.75% 0.78%
October 2013 2.82% 0.81%
September 2013 2.88% 0.85%
August 2013 2.90% 0.87%
July 2013 3.06% 0.95%
June 2013 3.16% 1.01%
May 2013 3.22% 1.05%
April 2013 3.36% 1.08%
March 2013 3.53% 1.15%
February 2013 3.68% 1.16%
January 2013 3.83% 1.21%

Source: CoreLogic.

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