Dennis Norman
A report released by CoreLogic showed the St. Louis metro area to have a foreclosure rate in June of 1.48 percent up slightly from May’s rate of 1.46 percent and an increase of 28.7 percent from the year prior when the rate was 1.15 percent.
The national foreclosure rate for June remains over twice the rate of St. Louis at 3.06 percent which is an increase of 16.8 percent from a year ago when the national foreclosure rate was 2.62 percent. For the State of Missouri the foreclosure rate in June was 1.27 percent, a 17.6 percent increase from a year ago when Missouri’s rate was 1.08 percent.
Mortgage delinquencies decrease for fifth 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 June 2010, 5.32 percent of the home loans in St. Louis were 90 days or more delinquent on their mortgage payments, an increase of 22.0 percent from a year ago when the delinquency rate in St. Louis was 4.36 percent.
Nationally, the rate of serious delinquency on home mortgages in June 2010 hit 8.05 percent, an increase of 23.3 percent from a year ago when the national rate was 6.53 percent.
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