Banking & Finance

Foreclosure, Delinquency Rates Down in Valley

YOUNGSTOWN, Ohio — The rate of mortgage in some state of delinquency (30 days or more past due including those in foreclosure) in the Youngstown-Warren-Boardman metropolitan area in April was 7.5%, compared to 7.8% in April 2016, CoreLogic, a California-based data and analytics company reports.

Despite the decrease, the April delinquency rate locally was higher than the national average of 4.8% in April, down from 5.3% in April 2016.

The mortgages in serious delinquency (90 plus days past due) in the area totaled 3.4% in April, down from 4.0% in April 2016. The serious delinquency rate nationally was lower at 2%, down from 2.6% in April 2016.

The foreclosure inventory rate for the area in April was 1.3% compared with 1.6% a year earlier. As of April, the national foreclosure inventory rate was lower than the local rate at 0.7%, compared with 1% in April 2016.

Published by The Business Journal, Youngstown, Ohio.