BUSINESS BRIEF
Delinquent mortgages in region continue fall
2/24/2014The percentage of Toledo-area mortgages that were delinquent 90 days or longer fell to 4.88 percent in December, down from 6.17 percent for the same month a year earlier, according to California real estate data firm CoreLogic.
It marked the third straight month that the 90-day delinquency rate was below 5 percent and the 12th month that the rate has fallen.
Additionally, the percentage of area mortgages in foreclosure also fell in December, to 1.93 percent, down from 2.96 percent for the same month a year ago. It marked only the second time in 2013 that the Toledo foreclosure rate was under 2 percent, according to CoreLogic.
Statewide, the 90-day delinquency rate fell to 5.36 percent in December, compared to 6.53 percent a year earlier. Ohio’s foreclosure rate in December was 2.08 percent, down from 3.07 percent a year earlier.