"In the second quarter, 0.5% of all the dollars in California mortgages were 90 days late or more. That's an improvement from the 0.6% share in the first quarter."
"California's delinquent mortgages are far below the 2.8% average since 2003. In 2009's fourth quarter, this yardstick of skipped house payments hit 13.2% of all mortgages."
"Nationwide, second-quarter delinquencies ran 0.8% of all mortgages, up from the 0.4% bottom in 2022's third quarter. Late mortgages averaged 2.6% of dollars due since 2003."
"In Florida, mortgage delinquencies hit 1.6%. That's the highest since 2018's fourth quarter and well above the recent low of 0.3%."
California's housing market shows positive signs as mortgage delinquencies remain historically low. In the second quarter, only 0.5% of mortgage dollars were 90 days late, a slight improvement from 0.6% earlier. While this figure is higher than the 0.2% recorded last year, it remains well below the historical average of 2.8%. Nationwide, delinquencies increased to 0.8%, but are still far from historical highs, with California faring better than rivals like Texas and Florida, which show higher delinquency rates.
#california-housing-market #mortgage-delinquency #economic-analysis #real-estate-trends #national-housing-data
Read at The Mercury News
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