Mortgage delinquency rate in Whatcom steadily dropping

Written by Dave Gallagher | The Bellingham Herald | July 27, 2011

The percentage of Whatcom County mortgages more than 90 days late has steadily dropped this past spring, according to a new national report.

In May the percentage of Whatcom County mortgages more than 90 days delinquent was 4.31, down from 4.33 in April and down from the peak of 4.44 percent in February, according to CoreLogic, a provider of property information. The May rate is up from a year earlier, when the delinquency rate was 3.79 percent.

Whatcom’s delinquency rate in May was also lower than the state rate of 5.98 percent and the U.S. rate of 7.29 percent. The state rate is higher than a year ago, while the national rate is down from 8.13 percent in May 2010.

The percentage of Whatcom County mortgages in some stage of foreclosure was 1.6 percent in May, down from 1.69 in April and the peak of 1.71 percent in March. In May 2010, Whatcom’s foreclosure rate was 1.04 percent.

Washington state’s foreclosure rate was 2.17 percent in May, while the national rate was 3.45 percent.