Tri-Cities foreclosure, delinquent mortgage rates continue trending lower


Foreclosure and delinquent mortgage rates in the Kingsport-Bristol MSA were back to pre-recession levels in April. The foreclosure rate was actually slightly below 0.50%  – a rate many local real estate professionals consider normal.
April foreclosureRates in the Johnson City MSA continue trending lower, but are still slightly above pre-recession levels.

According to current CoreLogic reports the rate of Kingsport-Bristol foreclosures among outstanding mortgage loans was 0.48% in April. That’s a decrease of 0.18 points compared with April 2014.

The Kingsport-Bristol mortgage delinquency rate also decreased in April. According to CoreLogic data 2.67% of mortgage loans were 90 days or more delinquent compared with 3.18% for the same period last year.
April delinquent mortgageThe foreclosure rate in the Johnson City MSA was 0.58% in April 2015, down 0.03% from April 2014.

Delinquent mortgages were also down. According to report, 2.52% of mortgage loans were 90 days or more delinquent compared with 3% percent for the same period last year.

Foreclosure activity and delinquent mortgages in the Tri-Cities were lower than the national rates in April.

CoreLogic’s Mortgage Delinquency Rate measures the percentage of loans that are more than 90 days delinquent, including those in foreclosure and REO (real estate owned).

The Foreclosure Rate measures the percentage of loans in some stage of the foreclosure process. A foreclosure is defined by the legal process by which an owner’s right to a property is terminated, usually due to default. This  is based on the current stock, or inventory, of loans in the foreclosure process which offers a comprehensive view of foreclosure trends but not new foreclosure filings.

Clicking on the images below brings up a larger image.

April K-B

 

 

 

 

JC APRIL

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