Amid the mostly positive housing market headlines these days, it's worth remembering that a sizeable number of homeowners are still slogging their way back toward financial health. According to CoreLogic, 3.84 percent of Nashville-area home loans were delinquent by 90 days or more in July while the area's foreclosure rate was 0.93 percent. We haven't seen both of those numbers that low since early 2009. Here's how they compare to the previous four years' July:
2012 — 4.87 percent and 1.54 percent
2011 — 5.30 percent and 1.82 percent
2010 — 5.47 percent and 1.27 percent
2009 — 4.56 percent and 1.05 percent
Law firm Baker Donelson Bearman Caldwell & Berkowitz has set up shop in Fort Lauderdale with an eye on getting a slice of the large mortgage litigation pie in the Sunshine State. NBJ's E.J. Boyer reports the office — Baker Donelson's 20th in all — is starting work with three attorneys and two paralegals.
After five months in a very tight range around 1.15 percent, the Nashville-area foreclosure rate fell to 1.06 percent in April, says research firm CoreLogic. Similarly, the 90-day delinquency rate among local mortgage borrowers dipped to 4.01 percent. It hasn't been below 4 percent since March of 2009.
Research firm CoreLogic says the Nashville-area housing market continues to heal if you're looking at it through the lens of seriously delinquent mortgages. In March, 4.2 percent of area home loans were delinquent, which is down 13 basis points from February and about 90 basis points less than a year earlier. All appears to be good there.
But the other metric CoreLogic tracks closely, the foreclosure rate, has stubbornly stayed around 1.15 percent since last fall. So, mortgage market watchers out there: Is that foreclosure rate our new "natural" number?