Banking & Finance

Foreclosure Rate Drops, Still Higher than Nation’s

YOUNGSTOWN, Ohio — The foreclosure rate among outstanding mortgage loans in the Youngstown-Warren-Boardman area was 1.73% in July, a drop of .22 percentage points compared to July 2015 when the foreclosure rate was 1.95%.

Still, the foreclosure rate here was higher here than the national foreclosure in July, which was 0.93 %, according to CoreLogic, a California-based financial data company.

Meanwhile, the mortgage delinquency rate decreased in the region during July . According to CoreLogic data, 4.75% of mortgage loans were 90 days or more delinquent compared with 5.39% for the same period last year, representing a decrease of 0.64 percentage points.

Nationwide, the mortgage delinquency rate was 2.82% in July compared to 3.56% in July 2015.

Published by The Business Journal, Youngstown, Ohio.