Dennis Norman
Foreclosure rates in St. Louis increased for the month of October over the same period last year according to a report released by First American CoreLogic. The report showed the St. Louis metro area to have a foreclosure rate of 1.31 percent in October, up just slightly from September’s rate of 1.25 percent, but up 61.7 percent from a year ago when the rate was 0.81 percent.
The national foreclosure rate for October was over double the rate of St. Louis at 3.02 percent and was an increase of 77.6 percent from a year ago when the national foreclosure rate was 1.70 percent.
It doesn’t appear the rate of foreclosures is going to slow down anytime soon as mortgage delinquency rates rose again in October. In St. Louis 5.1 percent of borrowers were 90 days or more delinquent on their mortgage in October, an increase of 50.0 percent from a year ago. The 90 day mortgage delinquency rate for the state of Missouri in October was 4.83 percent, an increase of 50.0 percent from a year ago. The US mortgage delinquency rate for October was 7.70 percent, up from 7.27 percent in September and an increase of 69.6 percent from a year ago.
Related posts:
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- Foreclosures in St. Louis Increase 50 Percent in July from a Year Ago; Mortgage Delinquencies Follow Suit
- St Louis Foreclosures Drop in October; Down over 40 percent from year ago
- St Louis Foreclosures Increase in November from the month before; Down 18 percent from a year ago
- HAMP loan modifications up 40 percent in September; Serious mortgage delinquencies up 147 percent in past year