Fresno foreclosure rates fall further

Source: The Business Journal

Foreclosure rates in Fresno dropped 0.42 percent from August 2011 to August of this year, CoreLogic, a provider of consumer, financial and property information, reports. The data shows that Fresno’s foreclosure rate was 2.43 percent for August, compared to 2.85 percent in August 2011. The foreclosure rate in Fresno was lower than the national rate that stood at 3.35 percent in August 2012. Foreclosure rates for Fresno have dropped each month dating back to April when the rate was 2.78 percent. Kings, Madera and Tulare counties also saw drops in foreclosure rates. Kings county foreclosure rates dropped by 0.37 percent from August 2011 to August 2012. They dropped by 0.56 percent in Madera County and 0.12 percent in Tulare County. Fresno’s 0.42 percent drop in foreclosures is slightly less than the 0.47 percent decrease for all of California. Also in Fresno, the mortgage delinquency rate decreased in August. CoreLogic found that Fresno’s delinquency rate – which is the percent of mortgage loans 90 or more days delinquent – was 6.42 percent in August, compared to 8.13 percent in August of 2011. That represents a decrease of 1.71 percentage points.

URL to original article: http://www.thebusinessjournal.com/news/real-estate/3723-fresno-foreclosure-rates-fall-further

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