The Federal Reserve Bank of New York has made the first quarter 2009 data regarding mortgage payments that are 90+ days delinquent available in an interactive map (county-by-county) on their website here.
Even with all the foreclosures that have occurred over the past few years, there are counties in Minnesota where the 90+ days delinquent is over 5%! One in 20 mortgages!
Here are the percentages of mortgages reported as 90+ days delinquent during the first quarter of 2009 for the 7-County Twin Cities Metro area:
- Anoka ............ 3.76 %
- Scott ............ 3.61 %
- Ramsey ............ 3.28 %
- Hennepin ............ 3.03 %
- Dakota ............ 2.75 %
- Washington ............ 2.44 %
- Carver ............ 2.33 %
- - - Isanti County ............ 5.3 %
County with the lowest percentage of 90+ days delinquent mortgages?
- - - Redwood County ............ 0.36 %
The interactive map ALSO tracks, using TransUnion data, the 60+ day delinquency rate on bank-issued credit cards. If the 60+ day delinquency rate is a leading indicator of future mortgage foreclosure (and it probably is, as struggling homeowners load their credit cards while trying to make mortgage payments) Minnesota is still in for a long haul with future foreclosures.
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