Foreclosure, delinquency rates improving across the board

By Reece Alvarez

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In a comparison with the previous year, fewer mortgages are going into foreclosure or delinquency in Fairfield County’s largest cities of Bridgeport, Stamford and Norwalk, though the rates for both metrics remain above the national average, according to data presented by the California-based data and analytics company, CoreLogic.

According to the data, among the three cities outstanding mortgage loan foreclosures have fallen from 2.12 percent in February 2015 to 1.71 percent in February 2016, though foreclosure activity remains above the national February 2016 rate of 1.13 percent, which dropped from 1.46 percent in February 2015.

Statewide the February 2016 foreclosure rate of 1.75 percent is on par with the tri-city rate. It has decreased along a similar trajectory falling from 2.11 percent in February 2015.

The percent of homes in Bridgeport, Norwalk and Stamford that are more than 90 days delinquent on their mortgage has fallen more rapidly than the foreclosure rate, decreasing from 5.05 percent in February 2015 to 3.90 percent in February 2016.

The delinquency rate is below the statewide rate of 4.26 percent, which dropped from 5.49 percent in February 2015.

However, the tri-city delinquency rate is above the national rate of 2.16 percent in February 2016, a decrease of 0.82 percent from a rate of 3.98 percent in February 2015.

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