L.A. County mortgage delinqency rate remains at about 10%
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About 1 in 10 Los Angeles County mortgage holders was delinquent by 90 days or more in July, according to First American CoreLogic. That’s basically the same level as June.
But the 9.8% Los Angeles County delinquency rate was almost double the 5% delinquency rate of July last year. The rate of L.A. County foreclosures, 3.7% in July, was also about double last July’s rate, suggesting lenders may not be delaying foreclosures as much as they had earlier in the year. More data from First American are in the table below.
-- Peter Y. Hong
Location | 90+ Day Delinquency Rate July 2009 | 90+ Day Delinquency Rate July 2008 | Change in 90+ Day Delinquency Rate | Foreclosure Rate July 2009 | Foreclosure Rate July 2008 | Change in Foreclosure Rate | REO Rate July 2009 | REO Rate July 2008 | Percentage Point Change in REO Rate |
California | 9.60% | 5.70% | 3.90% | 3.60% | 2.20% | 1.40% | 0.90% | 1.70% | -0.80% |
Los Angeles-Long Beach-Glendale, CA | 9.80% | 5.00% | 4.80% | 3.70% | 1.90% | 1.70% | 0.90% | 1.30% | -0.40% |
US | 6.86% | 4.01% | 2.85% | 2.79% | 1.59% | 1.20% | 0.54% | 0.78% | -0.24% |