(Source: OC Register) According to DataQuick’s monthly report for Orange County housing for February.
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The number of defaults — first step to foreclosure — was 1,775 – that’s +13.8% vs. the previous month and -35.3% vs. a year ago.
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Homeowners losing their homes through foreclosure numbered 600 – that’s -9.4% vs. the previous month and -22.1% vs. a year ago.
Other Orange County lending stats for last month, including the average down payment on homes financed, share of adjustable loans used to buy; and the estimated monthly mortgage payments for financed buyers — by month and year-to-date averages …
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Slice
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Last month
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Vs. prev. mo.
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Vs. year ago
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YTD average
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Vs. year ago
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Defaults
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1,775
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13.8%
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-35.3%
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1,668
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-32.5%
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Foreclosures
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600
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-9.4%
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-22.1%
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631
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-21.4%
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Avg. down payment
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19.3%
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-0.2%
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7.2%
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19.4%
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10.3%
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Adjustable loan share
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6.0%
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-1.2%
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106.9%
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6.6%
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127.6%
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Monthly payment index
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$2,195
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-0.9%
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1.3%
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$2,205
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0.1%
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