The number of Americans who are behind on their mortgage payments is the lowest in more than a decade.
And even fewer Dallas-area homeowners with loans have missed mortgage payments, according to a new study by CoreLogic.
Nationwide only 4.3% of homeowners with a mortgage had missed at leased one loan payment as of June, CoreLogic found. That's the lowest home loan delinquency rate since 2007.
In the Dallas area, only 4.1% of home mortgage holders were behind on their payments, according to CoreLogic.
"A solid labor market enables more homeowners to remain current on their mortgage," Frank Nothaft, chief economist for CoreLogic, said in the report. "The national unemployment rate in June 2018 was 4%, the lowest for June in 18 years."
Late loan rates and foreclosures were still running higher than normal in some Texas and Florida markets that are still recovering from last year's hurricanes, CoreLogic found,.
In the Houston-area, 6.3% of home loans were at least one payment behind.
And 0.4% of homes were in foreclosure.
The Dallas-area had a home foreclosure rate of just 0.2% at midyear. That's down sharply from 2012 when almost 2% of Dallas-area home mortgages were in foreclosure.
North Texas home prices have risen by almost 50% in the last five years.
Among the major markets CoreLogic focused on, the highest 2018 foreclosure rates were in New York, Miami, Las Vegas and Chicago.
