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Tampa Bay’s mortgage delinquency rate continues to fall

Rising delinquency rates in some areas might be a sign of trouble ahead.
A few short years ago, Tampa Bay was a national hub for foreclosures. Not any more. [Getty Images/iStockphoto]
A few short years ago, Tampa Bay was a national hub for foreclosures. Not any more. [Getty Images/iStockphoto]
Published Sep. 10, 2019
Updated Sep. 10, 2019

The percentage of Tampa Bay homeowners late on their mortgage payments continues to fall. According to the real estate information firm CoreLogic, 4.2 percent of bay area homeowners were at least 30 days delinquent in June, down from 5.5 percent the same month a year earlier. The percentage of those 90 or more days late dropped from 3.3 percent to 1.7 percent. Less than 1 percent of Tampa Bay homes with mortgages were in some stage of foreclosure in June.

Nationally, the foreclosure rate was 0.4 percent, a 20-year low. But eight states — not including Florida — showed rising mortgage delinquencies in what could be a harbinger of problems ahead. "While the nation continues to post near-record low mortgage delinquency rates, we are seeing signs of emerging stress in some states,'' said Frank Martell, Corelogic’s president and CEO. "We saw rates jump in states such as Vermont, New Hampshire, Nebraska and Minnesota that weren’t tied to a natural disaster.''

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