Dennis Norman
In spite of what is being said in the press about the real estate market improving and the effectiveness of the government’s programs to help keep people in their homes, the rate of foreclosure just keeps increasing.
A report released today by First American CoreLogic showed the St. Louis metro area to have a foreclosure rate of 1.43 percent up slightly from November’s rate of 1.35 percent and an increase of 66.67 percent from the year prior when the rate was 0.87 percent.
The national foreclosure rate for December was again over double the rate of St. Louis at 3.16 percent and was an increase of 82.6 percent from a year ago when the national foreclosure rate was 1.73 percent.
From new data on mortgage delinquencies, it appears we are going to continue to see the St. Louis foreclosure rate remain at, or above, the current levels for some time. St. Louis homeowners that are are seriously delinquent on their mortgages (90+ days delinquent) rose in December to 5.73 percent of the mortgages in St. Louis. This a small increase from November’s rate of 5.49 percent but is a 50 percent increase from a year ago when the rate was 3.82 percent. The U.S. rate for seriously delinquent mortgages in December was 8.40 percent, an increase of over 62 percent from a year ago when the rate was 5.16 percent.
Related posts:
- St Louis Real Estate – St Louis Foreclosure Rates Still on the Rise
- St. Louis Foreclosure Rates Increase for Forth Consecutive Month
- St. Louis Foreclosure Rates Increase for Third-Consecutive Month
- St. Louis Foreclosure Rates Increase for Fourth-Consecutive Month
- St Louis Real Estate – 2009 Ends with St Louis Foreclosure Rate at Record Levels