Texans continued to fall behind on their mortgage payments in the second quarter, and more than one in 10 Texas mortgages are late or in foreclosure.
At the end of June, 8.79 percent of residential mortgages in the state had delinquent payments and 1.84 percent went into foreclosure, the Mortgage Bankers Association reported Thursday.
Both figures rose compared with the first quarter.
Nationwide, a record 9.24 percent of residential loans were delinquent in the quarter. The closely watched measure includes all mortgages that are at least one payment behind. Texas ranks 17th nationally among states when ranked by the percentage of late mortgage payments.
The national average foreclosure rate in the second quarter was 3 percent.
Just four states – California, Florida, Arizona and Nevada – accounted for 44 percent of the nation's new home foreclosures during the second quarter, the Washington, D.C.-based trade group said.
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