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Small percentage more of homeowners behind on mortgages

by
Mortgage Bankers Association
Mortgage Bankers Association

UNDATED, WI (WTAQ) - More Wisconsin homeowners are behind on their mortgages than a year ago.

The Mortgage Bankers Association said Thursday that 6.25% of all mortgages in the Badger State were in arrears on September 30th.

That’s up by one-hundredth-of-a-percent from the previous year.

Officials said more loans appear to be 30 days past due, both in Wisconsin and nationally.

The bankers’ trade group said it’s not surprising quote, “given the weak economic and job growth in the third quarter” of the year.

Even so, Wisconsin is bucking a nationwide trend of falling delinquencies.

The national rate fell from 8.2% last September to just over 7.6% this time – and the biggest declines were loans that were at least 90 days past due.

The Mortgage Bankers Group said Wisconsin’s actual foreclosure rate is smaller than a year ago. Almost 3.2% of Wisconsin mortgages were in some stage of foreclosure in September – down from almost 3.5% the year before.

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