The rate among outstanding mortgage loans slipped to 5.15 percent — a year-over-year decrease of 0.51 percentage points. In March, the rate was 5.6 percent.
On the macro level, however, foreclosure activity in this region was higher than the national average. Nationally, the rate ticked in at 2.65 percent.
There was also a decrease in the New York-White Plains-Wayne mortgage delinquency rate. A total of 8.51 percent of mortgages loans were 90 days or more delinquent, a 0.21 percentage point decrease compared to the same period last year. This is also a month-over-month decrease for the delinquency rate, which in March was at 8.76 percent.
Again, the greater New York area’s mortgage delinquency rate ranked higher than the national average, which was 5.76 percent in April. This marks an annual decrease of 1.19 percentage points. —Zachary Kussin