The percent of Connecticut homes in foreclosure dropped for the year ending Feb. 2016, but the state still lags behind the national average.
According to figures provided by CoreLogic, a global property analytics firm, Connecticut’s foreclosure inventory rate stood at 1.8 percent as of Feb. 2016. The rate is determined by the number of mortgages in foreclosure compared to overall mortgages in a state.
As of Feb. 2016, the national foreclosure inventory included approximately 434,000, or 1.1 percent, of all homes with a mortgage compared with 571,000 homes, or 1.5 percent, in Feb. 2015. The Feb. 2016 foreclosure inventory rate is the lowest for any month since November 2007.
CoreLogic also reports that the number of Connecticut mortgages in serious delinquency (defined as 90 days or more past due including loans in foreclosure) is 4.3 percent, which is down 23 percent from Feb. 2015.
The national delinquency rate declined by 19.9 percent from Feb. 2015 to Feb. 2016, with 1.3 million mortgages, or 3.2 percent, in this category.
