Foreclosure rates fall in Fresno

Written by Business Journal Staff

Foreclosure rates in Fresno fell for the month of December over the same period last year, according to newly released data from CoreLogic, a provider of consumer, financial and property information.

Also, it was the third straight month that the foreclosure percentage dropped in Fresno.

The data reveals that the rate of Fresno area foreclosures among outstanding mortgage loans is 2.83 percent for December of 2011, a decrease of .70 percentage points compared to 3.53 percent in December of 2010.

Foreclosure activity in Fresno is lower than the national foreclosure rate, which as 3.37 percent for December, 2011. Statewide the foreclosure rate was 2.52 percent in December, compared to 3.21 percent for the same month one year earlier.

In Fresno, the mortgage delinquency rate has also decreased. CoreLogic data for December 2011 shows 7.62 percent of mortgage loans were 90 days or more delinquent compared to 10.12 percent for the same period last year.

On a year-over-year basis, the mortgage delinquency rate has decreased 2.50 percent.

Realtors report that various factors have helped the home market including a reduction in foreclosed homes put on the market by bansk, improved labor conditions, and investor demand for homes. Also, more lenders are working with buyers to restructure loans to prevent delinquencies and foreclosures.

URL to original article: http://www.thebusinessjournal.com/news/real-estate/1137-foreclosure-rates-fall-in-fresno

For further information on Fresno Real Estate check: http://www.londonproperties.com