Although the foreclosure rate in Louisiana still remains low, the percentage of homeowners who are behind on their mortgage payments is above the national average. According to figures from the National Mortgage Bankers Association, 8.84% of all Louisiana homeowners were past due on their mortgage at one point during the first quarter of this year. That’s better than during the fourth quarter of 2008, when 10.13% of all mortgages in the state were past due — a factor that some analysts blamed on the holidays and gift-buying season. The U.S. average for delinquencies was 8.2% in the first quarter, slightly down from the fourth quarter numbers of 8.63%. The report also says that 2.4% of loans in the state were in foreclosure at the end of the quarter, compared with the national average of 3.85%. Puerto Rico had the highest delinquency rate, with 12.4% of all mortgages being past due, while Nevada was second at 11.75%.
La. ahead of national average for mortgage delinquencies
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