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St Louis Real Estate News: St. Louis foreclosure rate increases, again

Dennis Norman

Dennis Norman

Foreclosure rates in St. Louis increased for the month of September 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 1.26 percent in September, up just slightly from August’s rate of 1.24 percent, but up over 59 percent from a year ago when the rate was 0.79 percent.

firstamerican corelogic

The national foreclosure rate for September was over double the rate of St. Louis at 2.93 percent and was an increase of 75 percent from a year ago when the national foreclosure rate was 1.67 percent. 
It doesn’t appear the rate of foreclosures is going to slow down anytime soon as mortgage delinquency rates rose again in September. In St. Louis 4.73 percent of borrowers were 90 days or more delinquent on their mortgage in September, an increase of 43.3 percent from a year ago. The 90 day mortgage delinquency rate for the state of Missouri in August was 4.53 percent, an increase of over 44 percent from a year ago.  The US mortgage delinquency rate for September was 7.27 percent, up from 7.10 percent in August and an increase of over 65 percent from a year ago.
Sept 2009 Foreclosures St Loius
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