St. Louis Foreclosures Increase over 68 percent from a year ago

Dennis Norman

Dennis Norman

I would say it’s say to say that the Obama administrations efforts to curtail the foreclosure rate is not working as the foreclosure rate in St. Louis increased again in November according to a report released today by First American CoreLogic.The report showed the St. Louis metro area to have a foreclosure rate of 1.35 percent in November, up just slightly from October’s rate of 1.31 percent and  increase of 68.75 percent from a year ago when the rate was 0.80percent.

firstamerican corelogic

The national foreclosure rate for November was again over double the rate of St. Louis at 3.09 percent and was an increase of 77.6 percent from a year ago when the national foreclosure rate was 1.74 percent.
 It doesn’t appear the rate of foreclosures is going to slow down anytime soon either.   The rate of borrowers that are seriously delinquent on their mortgages (90+ days delinquent) continues to rise hitting a rate of 5.49 percent in November for the St. Louis area.  This a slight increase from October’s rate of 5.27 percent but is a 52 percent increase from a year ago when the rate was 3.61 percent.  The U.S. rate for seriously delinquent mortgages in November was 8.14 percent, an increase of over 67 percent from a year ago when the rate was 4.86 percent.
Corelogic Foreclosure and Delinquencies for St Louis, MO November 2009

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