St. Louis Foreclosure Rates Increase for Forth Consecutive Month

A report released by CoreLogic showed that the  St. Louis foreclosure rate increased in October marking the fourth-consecutive month of increases.  The report shows St. Louis to have a foreclosure rate in October of 1.58 percent, a slight increase from September’s 1.57 percent, however an increase of over 11 percent from a year ago. The foreclosure rate in the U.S. in October was 3.33 percent, an increase of 14 percent from the year before.

For the state of Missouri, the foreclosure rate in October was 1.58 percent an increase of 20.6 percent from a year ago when the rate was 1.31 percent.

St. Louis Mortgage delinquencies increase after eight consecutive months of decreases…

It looked like the trend for mortgage delinquencies was downward as we watched the rate of serious mortgage delinquency (90+ days delinquent) decline for eight consecutive months.  This streak ended in October though as the delinquency rate climbed to 5.22 percent. Granted this is an increase of only right at 1 percent from the month before when the rate was 5.17 percent, however it’s going the wrong direction nonetheless.  Hopefully this is a little “blip” and when the delinquency numbers come in for November they decrease.  If not, and the rate of mortgage delinquencies continue to rise or hold steady we might as well prepare for an increased foreclosure rate and yet another nail in the coffin with regard to recovery of the housing market.


Nationally, the rate of serious delinquency on home mortgages in October 2010 hit 7.90, an increase of right at 1.0 percent from a year ago when the national rate was 7.82 percent.


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