Fewer D-FW Homeowners Are Late With Mortgages
The number of Dallas-Fort Worth homeowners who are behind on their loan payments continues to fall.
In April, only 3.6% of local residents with a mortgage had missed one or more payments. That's the same as the nationwide mortgage delinquency rate, which was the lowest in more than two decades, according to CoreLogic.
"Thanks to a 50-year low in unemployment, rising home prices and responsible underwriting, the U.S. overall delinquency rate is the lowest in more than 20 years," Dr. Frank Nothaft, chief economist at CoreLogic, said in a statement.
The percentage of late home loan payments around the country has risen only in areas that have seen natural disasters, including forest fires and storms.
In April, only 1.1% of D-FW homeowners were seriously behind in their payments with a delinquency of 90 days or more. And the local home foreclosure rate was only 0.2%, CoreLogic found.
During the worst of the recession in 2010, more than 5% of Dallas-area mortgages were seriously delinquent and about 1.5% of all loans were in foreclosure.
In April, 4.5% of Houston area home loans were behind in payments, and 4.8% of San Antonio mortgages were at least one month late. Austin had the lowest delinquency rate among the major Texas metros at only 2.3%. Looking at major U.S. markets, CoreLogic said that New York City mortgage delinquency rates were at 4.9% and 4.8% of Miami homeowners were behind with their payments. The lowest mortgage delinquency rates were in San Francisco (1.3%) and Denver (1.6%)...