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Foreclosure rates falling in St. Louis

8:37 AM, Jul 23, 2013   |    comments
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ST. LOUIS (KSDK) - Foreclosure rates in the St. Louis area are falling, according to a new housing report.

CoreLogic, a company that provides real estate news and trends, released a report Tuesday indicating a 1.16 percent foreclosure rate in St. Louis in May 2013. This is below last May's rate of 1.75 percent.

The St. Louis rate is also lower than the national foreclosure rate of 2.61 percent, said CoreLogic. However, St. Louis' rate is still higher than Missouri's 0.95 percent foreclosure rate.

MAP: Foreclosure rate by zip code

CoreLogic's report also says the local 90+ day mortgage delinquency rate is 3.88 percent, down from last year's 4.70 percent. Nationally, the delinquency rate is 5.63 percent and Missouri's rate is 3.54 percent.

The delinquency rate measures the percentage of loans that are more than 90 days delinquent, including those in foreclosure and REO (real estate owned).

NewsChannel 5 intern Michael Rich contributed to this report.

KSDK

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