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

  • Blog Post by: Jim Buchta
  • 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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