Few Colorado homeowners "underwater" with their mortgage

Most Colorado homeowners are in pretty good financial shape.

Zoom in: Only 2% of homeowners are "underwater" on their loans — meaning they owe more on the mortgage than their home is worth — slightly lower than the national average (2.7%), per Attom , a real estate data company.

The intrigue : Wyoming has the second-highest underwater rate in the country (8.8%), with home values there dropping about 12% since June 2023.

• Louisiana's rate of 11.3% leads the nation.

Reality check: These shares are still relatively small, nothing like the 2008 housing crisis that left 1 in 4 homes with underwater mortgages.

The big picture: The South and Midwest have the highest share of underwater mortgages because home values in those areas fell from their peak during the pandemic housing boom.

• And people who bought at the top are seeing their home values dip below what they paid or borrowed for the house.

Go deeper: "Seriously underwater" mortgages live in the South and Midwest

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