Nevada ranks second in U.S. in mortgage delinquency rate
Although data show that more homeowners across the country made their mortgage payments on time in the fourth quarter, Nevada was second in the nation in the delinquency rate.
The Mortgage Bankers Association reported Thursday that among the 50 states and District of Columbia, Nevada ranked first in foreclosures started and second in delinquencies.
Mississippi ranked first in delinquencies with a rate of 13 percent in the fourth quarter, the association said. Residential mortgage delinquency in Nevada fell nine-tenths of a percentage point to 12 percent. The delinquency rate excludes loans already in foreclosure.
The number of Nevada loans on which foreclosure was started in the quarter declined two-tenths of a percentage point to 3 percent.
Meanwhile, credit reporting agency TransUnion found that 6.41 percent of homeowners were behind on their mortgages by 60 days or more during the last three months of 2010. It marked the fourth straight period the rate fell, and was down from 6.89 percent in 2009's fourth quarter, when delinquencies peaked.
Although TransUnion analysts until recently expected the figure to keep dropping this year, they are now predicting a flat rate through 2011, mainly because of recent housing price declines.
Contact reporter John G. Edwards at jedwards@reviewjournal.com or 702-383-0420.
