Area Foreclosure, Delinquency Rates Decline in August

YOUNGSTOWN, Ohio – The foreclosure rate in the Youngstown-Warren-Boardman metropolitan statistical area during August was down nearly half a percentage point from a year earlier, CoreLogic reported this morning.

The rate of foreclosures among outstanding mortgage loans in the three-county eastern Ohio-western Pennsylvania region in August was 1.81%, down from 2.26% in August 2014. The local foreclosure rate for the month was higher than both the Ohio rate of 1.29% and the U.S. rate of 1.25%.

In August 2014, the Ohio foreclosure rate was 1.57% and the U.S. rate was 1.62%, according to CoreLogic, a California-based provider of financial data.

The mortgage delinquency rate locally also declined in August – by more than a full percentage point – from a year earlier. The percentage of houses 90 or more days delinquent in August was 5.14%, compared with 6.24% a year earlier.

The local 90-plus day delinquency rate was higher than the Ohio and U.S. rates as well. In Ohio, the 90-plus day delinquency rate was 3.76% and the U.S. rate was 3.44%. Both were down as well from a year ago, when the statewide rate was 4.62% and the national rate 4.30%.

Copyright 2022 The Business Journal, Youngstown, Ohio.