According to CoreLogic our nation’s mortgage delinquency rate in June dropped to 4.3%, down 0.3% from a year ago. Colorado has the LOWEST delinquency rate in the country yet again at just 2%. Metro Denver’s delinquency rate was just 1.8%, 2nd lowest in the country after San Francisco.
So, out of 1,000 homes owned by individuals there are approximately 12 owners who are 30 days or more late on their mortgage payment. This is miniscule! Our foreclosure rate is just 0.1%. Distressed sales are nearly extinct in Denver.
Finally, if our homes were truly unaffordable as the media like to claim they are, how are 98.2% of mortgage borrowers able to afford the payment?