According to the National Delinquency Survey, released earlier this month by the Mortgage Bankers Association, 30-day delinquencies were down year over year, falling from 2.17 percent to 2.03 percent.
The foreclosure inventory in Colorado has fallen for five quarters in a row following an uptick in the foreclosure inventory during the fourth quarter of 2010.
The national foreclosure inventory rate was 4.39 percent during the first quarter of 2012, continuing a trend in which the national foreclosure inventory rate has been above the Colorado rate since the fourth quarter of 2007.
As noted in an earlier post, Colorado was 6th best in the nation for the percentage of loans that are either in foreclosure or are 90 or more days delinquent.
The first graph shows the foreclosure inventory rate for each quarter since the fourth quarter of 2005. Colorado is in a generally downward trend that began after the fourth quarter of 2009. It is important to note, of course, that while Colorado is back to the foreclosure inventory rate it experienced in 2009, 2009 was not a good year for real estate and foreclosures, and the foreclosure inventory is still about than double what it was in 2005.
Foreclosure inventory rate:
Colorado:
1st Q 2012: 1.95
4th Q 2011: 2.01
1st Q 2011: 2.33
Most recent peak: 2.81, 4th Q 2009
US:
1st Q 2012: 4.39
4th Q 2011: 4.38
1st Q 2011: 4.52
Most recent peak: 4.63, 1st Q 2010, or 4th Q 2010
30-day delinquencies
During the fourth quarter of 2011, new 30-day mortgage delinquencies in Colorado were down year over year, falling from 2.17 percent to 2.03 percent.
In the graph below, the 30-day delinquency rate is broken out by year and by quarter. We can see that the 30-day delinquency rate for the first quarter of this year was the lowest first-quarter rate reported since 2008 when the rate was also 2.03 percent, and the first-quarter rate has now fallen for three years in a row.
