PhotoRoughly 4.5% of mortgages across the U.S. were in some stage of delinquency -- 30 days or more past due including those in foreclosure in June -- according to property information provider CoreLogic, down 0.8% from the same month a year earlier.

Additionally, the foreclosure inventory rate -- which measures the share of mortgages in some stage of the foreclosure process -- came in at 0.7%, down 0.2 % from June 2016 and the lowest since July 2007.

“After peaking at 3.6% in December 2010, June’s 0.7% foreclosure rate was the lowest in 10 years,” said CoreLogic CEO Frank Martell. “Across the 100 most populous metro areas, the foreclosure rate varied from 0.1% in Denver-Aurora-Lakewood to 2.2% in New York-Newark-Jersey City.”

The breakdown

The rate for early-stage delinquencies -- 30-59 days past due -- was 2.0% in June, down 0.1% from a year earlier in June 2016. The share of mortgages that were 60-89 days past due in June was 0.6%, also a year-over-year decline of 0.1%.

Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was unchanged at 0.9%.

By comparison, in January 2007, just before the start of the financial meltdown, the current-to-30-day transition rate was 1.2% and peaked in November 2008 at 2.0%.

CoreLogic Chief Economist Dr. Frank Nothaft is projecting a 5.0% home-price appreciation rate and further job growth in the coming year which says will put, “renewed downward pressure on mortgage delinquency rates.”

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