BUSINESS BRIEF

Delinquent mortgages fall 19% locally in ’13

12/23/2013

BLADE STAFF

The percentage of Toledo-area mortgage loans that were three months overdue has dropped 19 percent in the last year, according to California real estate data firm CoreLogic.

The rate dropped to 4.96 percent in October, down from 6.15 percent a year earlier, CoreLogic said.

It’s the first time in five years that the number dropped below 5 percent.

The percentage skyrocketed to more than 8 percent in the spring of 2010.

It dipped below 7 percent in April, 2011, then fell below 6 percent in March, 2013.

The percentage of loans that are 90 days delinquent has fallen for 10 consecutive months.