Banking & Finance

Mortgage Delinquencies, Foreclosures Fall in March

YOUNGSTOWN, Ohio – Foreclosure and mortgage delinquency rates declined for the Youngstown-Warren-Boardman metropolitan statistical area in March, but were still ahead of the national and statewide rates, CoreLogic reported this morning.

The California-based data and analytics company said the rate of area foreclosures among outstanding mortgage loans was 1.80% for March, a decrease of 0.14 percentage points compared with March 2015 when the foreclosure rate was 1.94%.

Nationally, the foreclosure rate was 1.09% in March, down from 1.42% a year earlier. For the state of Ohio, the foreclosure rate in March was 1.30%, down from 1.52% in March 2015.

The rate of delinquencies for mortgages 90 or more days delinquent for the Youngstown MSA was 4.74% in March, down from 5.55% a year earlier.

For Ohio, the 90-plus-day delinquency rate was 3.57% in March, down from 4.33% a year earlier. For U.S. delinquencies, the rate was 3.03% in March, down from 3.79% a year earlier.

Published by The Business Journal, Youngstown, Ohio.