The region’s foreclosure rate remains close to zero.
Foreclosures remain low across Dallas-Fort Worth, according to new data from CoreLogic.More D-FW homeowners were current on their mortgage payments at the end of 2021 than in 2020 as the economy continued to rebound, according to a new report.
Only 3.8% of mortgages in the region were 30 days or more past due in December — down from 6.4% a year earlier, new numbers from CoreLogic show. That figure is also down slightly fromJust 1.9% of D-FW mortgages were 90 days or more past due, down from 4.3% at the end of 2020, CoreLogic found. The national delinquency rate reached a new low in December at 3.4%. The data firm said improved employment numbers plus increases in equity due to rising home prices helped more homeowners end the year current on their mortgages.
“Nonfarm employment grew by 6.7 million workers during 2021, the largest one-year increase, supporting income growth and keeping more families current on their loans,” Frank Nothaft, chief economist of CoreLogic, said in the report. “Nonetheless, places hit hard by natural disasters have experienced a spike in missed payments.”
All but one U.S. metro area saw at least a small annual decrease in late mortgage payments. Only the Houma-Thibodaux area in Louisiana, which was hit by Hurricane Ida in the fall, saw an unchanged delinquency rate in December. Still, the rate in that area saw improvements from October and November, CoreLogic found.Among Texas’ major markets, Austin had the lowest rate of late home loan payments at just 2.3%. The Houston area had a 4.7% late loan payment rate, with San Antonio’s at 4.8%..
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