Bellingham’s foreclosure rate in October 2014 was 0.84 percent, which is down from October 2013’s foreclosure rate of 1.10 percent, according to data released from CoreLogic, a corporation that provides financial and real estate data.
The percentage of homes with outstanding loans being foreclosed on has decreased steadily from a peak at the end of 2012, when the rate was 1.58 percent.
Bellingham’s foreclosure rate in October 2014 was lower than both the national rate of 1.52 percent and the state’s 1.33 percent rate.
The mortgage delinquency rate (the percentage of homes with outstanding loans 90 or more days delinquent but not yet in foreclosure) also decreased in October 2014. According to CoreLogic data, 2.34 percent of mortgage loans were 90 days or more delinquent in October compared to 3.21 percent for the same period last year.
Monthly mortgage delinquency rates have decreased for more than two years. Their three-year peak of 4.38 percent was in June 2012, six months before the foreclosure rate peaked.
While both the foreclosure rate and mortgage delinquency rate in Bellingham is lower than the state and national rates, the state and national rates have decreased faster in the last 12 months than they have in Bellingham.
Here’s the data from CoreLogic:
Location | 90+ Day Delinquency Rate October 2014 | 90+ Day Delinquency Rate October 2013 | Percentage Point Change in 90+ Day Delinquency Rate | Foreclosure Rate October 2014 | Foreclosure Rate October 2013 | Percentage Point Change in Foreclosure Rate |
---|---|---|---|---|---|---|
Washington | 3.46% | 4.82% | -1.36% | 1.33% | 1.89% | -0.56% |
Bellingham, WA | 2.34% | 3.21% | -0.87% | 0.84% | 1.14% | -0.30% |
US | 4.11% | 5.16% | -1.05% | 1.52% | 2.21% | -0.69% |
Source: CoreLogic.
Bellingham, WA | 90+ Day Delinquency Rate | Foreclosure Rate |
---|---|---|
October 2014 | 2.34% | 0.84% |
September 2014 | 2.41% | 0.86% |
August 2014 | 2.50% | 0.91% |
July 2014 | 2.62% | 1.00% |
June 2014 | 2.63% | 1.03% |
May 2014 | 2.71% | 1.07% |
April 2014 | 2.78% | 1.04% |
March 2014 | 2.85% | 1.07% |
February 2014 | 2.94% | 1.11% |
January 2014 | 3.05% | 1.08% |
December 2013 | 3.10% | 1.19% |
November 2013 | 3.20% | 1.19% |
October 2013 | 3.21% | 1.14% |
September 2013 | 3.28% | 1.13% |
August 2013 | 3.42% | 1.17% |
July 2013 | 3.60% | 1.29% |
June 2013 | 3.72% | 1.38% |
May 2013 | 3.73% | 1.40% |
April 2013 | 3.76% | 1.41% |
March 2013 | 3.92% | 1.46% |
February 2013 | 4.05% | 1.46% |
January 2013 | 4.16% | 1.58% |
Source: CoreLogic.