Dennis Norman
A report released by CoreLogic showed the St. Louis metro area to have a foreclosure rate in August of 1.52 percent which is a slight increase from July’s rate of 1.48 percent but is an increase of 25.6 percent from the year prior when the rate was 1.21 percent. Comparatively speaking, St. Louis is in good shape as the national foreclosure rate for August was 3.2 percent, almost double our rate here.
For the state of Missouri, the foreclosure rate in August was 1.31 percent, an increase of 15.9 percent from a year ago when the rate was 1.13 percent.
St. Louis Mortgage delinquencies decrease for seventh consecutive month…
On the positive side of things, the rate of serious mortgage delinquencies in St. Louis continues to fall at a slow, but steady rate. For August 2010, 5.15 percent of the home loans in St. Louis were 90 days or more delinquent on their mortgage payments down from 5.18 percent in July but is an increase of 7.7 percent from a year ago when the delinquency rate in St. Louis was 4.78 percent.
Nationally, the rate of serious delinquency on home mortgages in August 2010 hit 7.79 percent, an increase of 9.0 percent from a year ago when the national rate was 7.09 percent.
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