Hartford-West Hartford-East Hartford and New Haven-Milford rank among the lowest U.S. metropolitan areas where home mortgages were seriously delinquent amid subprime default levels that are among the highest in the country, a mortgage data tracker says.
As of last September, 3.5 percent of the Hartford tri-community region’s home mortgages were in default and close to, or undergoing foreclosure, according to Foreclosure-Response.org.
Hartford area houses bearing prime-rate loans have a 2.5 percent default rate. Meanwhile, 17.8 percent of dwellings financed with subprime mortgages were in foreclosure as of Sept 30. Data for previous-year comparisons was not provided.
Overall, Hartford-West Hartford-East Hartford ranked No. 239 among 367 major metropolitan areas surveyed.
New Haven-Milford ranked 105th, with a 5.1 percent overall foreclosure level. Three percent of that shoreline region’s prime-rate loans were in default, but its subprime foreclosure level was 20.8 percent.
Florida, California, Nevada and several Midwest states have the highest home foreclosure levels in the nation. Miami-Ft.Lauderdale-Pompano Beach, Fla., led the list with a staggering 17.5 percent foreclosure rate, with 37.3 percent of its subprime home loans in default.
Texas, and states in the Pacific Northwest, Central and Mountain regions are among the lowest.
