Foreclosure, Delinquency Rates Decline in Valley
YOUNGSTOWN, Ohio — Foreclosures in the Youngstown-Warren-Boardman metropolitan area in May were down nearly three-fourths of a percentage point from a year earlier, reports CoreLogic, a California-based provider of property information and analytics.
The local foreclosure rate among outstanding mortgage loans in May was 1.77%, compared with 2.48% in May 2014. It also was down from April’s 1.81%.
Still, foreclosure activity for May in Youngstown-Warren-Boardman was higher than the national foreclosure rate, which was 1.29%, down from 1.73% a year earlier.
Ohio’s May foreclosure rate was 1.32%, down from 1.71% in May 2014.
The mortgage delinquency rate also declined locally. According to CoreLogic data for May, 5.25% of mortgage loans were 90 days or more delinquent compared with 6.42% for the same period last year, representing a decrease of 1.17 percentage points. In April, the mortgage delinquency rate for the metro area was 5.36%.
Ohio’s mortgage delinquency rate in May was 3.91%, down from 4.80% in May 2014.
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