Arizona Mortgage Delinquency Rates At A 15 Year Low

Arizona Mortgage Delinquency Rates At A 15 Year Low

The Black Knight Financial Service Mortgage Monitor report for March shows a dramatic fall in delinquency over the past 2 months. There is something of a seasonal pattern in these numbers and January to March is the time of year when the delinquency rate tumbles almost every year. However it is significant that the total delinquency rate for the USA is now at pre-housing crisis levels and the 30-day delinquency rate is the lowest in well over 15 years.

For Arizona we have 2.9% of first home loans delinquent and 0.5% in foreclosure, making 3.4% of loans non-current. The long term average is 5%. Arizona ranks 43 out 51 states (including DC) for non-current loans and 49 out of 51 for homes in foreclosure.

For those who like working foreclosures, Arizona is not a very productive location any more. The best spots would be:

  1. New Jersey 4.3%

  2. New York 3.7%

  3. Hawaii 3.5%

  4. Maine 2.7%

  5. Florida 2.6%

  6. New Mexico 2.4%

  7. Delaware 2.3%

  8. District of Columbia 2.2%

  9. Rhode Island 2.2%

  10. Connecticut 2.1%

Dave Zajdzinski Headshot
Phone: 480-332-6468
Dated: May 11th 2016
Views: 233
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