Banking & Finance

Valley’s Foreclosure Rate Drops in July

YOUNGSTOWN, Ohio — The mortgage foreclosure rate in the Youngstown-Warren-Boardman statistical metropolitan area fell to 7.5% in July, down from 8.4% in July 2016, CoreLogic reported today.

Mortgages in series delinquency — more than 90 days past due — in the region totaled 3.2% in July compared with 4.1% in July 2016.

Nationwide 4.6% of mortgages were in some stage of delinquency during July, down 9% from last July, according to the financial analytics company.

As of July, the national foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was 0.7%, down from 0.9% in July 2016 and the lowest since the rate was also 0.7% in July 2007.

Published by The Business Journal, Youngstown, Ohio.