Area mortgage delinquency rate falls to lowest level since 2009

The mortgage delinquency rate in the Wichita metro area in April fell to its lowest rate since 2009, according to national real estate data firm CoreLogic.

According to the firm, payments on 3.13 percent of all outstanding mortgages in the metro area are more than 90 days late. Also, the firm said, 0.84 percent of all outstanding mortgages are in foreclosure, which ties the lowest rate since 2009.

The Wichita area, like the rest of the U.S., saw a sharp upturn in mortgage foreclosures starting in 2007 from the bursting of the sub-prime housing bubble and becoming worse with the recession and its slow recovery. The area delinquency rate peaked in January 2012 at 4.64 percent of all mortgages, while the foreclosure rate peaked in February 2011 at 1.8 percent of all mortgages.

This story was originally published June 25, 2015 at 11:25 AM with the headline "Area mortgage delinquency rate falls to lowest level since 2009."