Mortgage delinquency rates in Colorado ticked up in the second quarter of 2012, according to a survey by the Mortgage Bankers Association released Thursday.
The delinquency rate for mortgage loans on residential properties in Colorado was 5.08 percent at the end of the quarter, an increase of 29 basis points from the first quarter of this year.
The delinquency rate excludes loans in the process of foreclosure. The percentage of loans in Colorado on which foreclosure was started during the quarter rose 7 basis points to 0.71 percent, while the percentage of loans in the foreclosure process at the end of the quarter fell 5 basis points to 1.90 percent.
Rates are not seasonally adjusted. Mortgage delinquency rates normally rise between the first and second quarters of the year due to a variety of seasonal factors.
The delinquency rate for prime adjustable rate mortgage (ARM) loans increased 7 basis points to 5.79 percent, and the rate for prime fixed rate mortgage loans increased 20 basis points to 2.43 percent.
Among the 50 states and the District of Columbia, Colorado ranked 42nd in delinquencies and 35th in foreclosures started.
John Mossman: 303-954-1479, jmossman@denverpost.com
