Foreclosure rates in Central Valley increase

STOCKTON
November 5, 2009 12:55pm
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•  Up most markets

•  Mortgage delinquencies also increasing


Foreclosure rates in up and down the Central Valley increased in September over the same month last year, according to a report Thursday from First American CoreLogic, a real estate information company.

Here is the company’s review of select Central Valley markets:

• Stockton

The rate of foreclosures among outstanding mortgage loans in Stockton was 5.68 percent for September, an increase of 2.06 percentage points compared to September 2008 when the rate was 3.63 percent, the report says.

Foreclosure activity in Stockton was higher than the national foreclosure rate, which was 2.93 percent for September, representing a 2.75 percentage point difference.

Also in Stockton, the mortgage delinquency rate has increased. According to First American CoreLogic data for September, 15.50 percent of mortgage loans were 90 days or more delinquent compared to 11.86 percent for the same period last year, representing an increase of 3.63 percentage points.

• Bakersfield

Foreclosure rates in Bakersfield increased in September over the same period last year, according to First American CoreLogic.

The rate of foreclosures among outstanding mortgage loans was 5.08 percent for the month of September, an increase of 2.35 percentage points compared to September of 2008 when the rate was 2.73 percent.

Foreclosure activity in Bakersfield was higher than the national foreclosure rate, which was 2.93 percent for September 2009, representing a 2.15 percentage point difference.

Also in Bakersfield, the mortgage delinquency rate has increased. According to First American CoreLogic data for September 2009, 14.12 percent of mortgage loans were 90 days or more delinquent compared to 9.08 percent for the same period last year, representing an increase of 5.04 percentage points.

• Visalia-Porterville

Foreclosure rates in the Visalia-Porterville metro area also increased in September compared to a year earlier.

First American CoreLogic says the Visalia-Porterville rate of foreclosures among outstanding mortgage loans was 3.64 percent for the month of September, an increase of 1.85 percentage points compared to September of 2008 when the rate was 1.80 percent.

Foreclosure activity in Visalia-Porterville was higher than the national foreclosure rate which was 2.93 percent for September 2009, representing a 0.71 percentage point difference.

• Fresno

Foreclosure rates in Fresno increased in September as well. The rate of foreclosures among outstanding mortgage loans was 3.84 percent for the month of September, an increase of 1.86 percentage points compared to September of 2008 when the rate was 1.98 percent. Foreclosure activity in Fresno was higher than the national foreclosure rate, which was 2.93 percent for September 2009, representing a 0.91 percentage point difference.

Also in Fresno, the mortgage delinquency rate has increased. According to First American CoreLogic data for September, 10.96 percent of mortgage loans were 90 days or more delinquent compared to 6.60 percent for the same period last year, representing an increase of 4.36 percentage points.

• Merced

Foreclosure rates in Merced increased for the month of September over the same period last year, according to First American CoreLogic.

The rate of foreclosures among outstanding mortgage loans in Merced was 6.28 percent in September, an increase of 1.84 percentage points compared to September 2008 when the rate was 4.44 percent. Foreclosure activity in Merced was higher than the national foreclosure rate, which was 2.93 percent for September 2009, representing a 3.35 percentage point difference.

Also in Merced, the mortgage delinquency rate has increased. According to First American CoreLogic data for September 2009, 17.72 percent of mortgage loans were 90 days or more delinquent compared to 14.59 percent for the same period last year, representing an increase of 3.14 percentage points.

• Sacramento

Foreclosure rates in Sacramento-Arden-Arcade-Roseville-Woodland metropolitan area increased for the month of September over the same period last year, according to First American CoreLogic.

The rate of foreclosures among outstanding mortgage loans was 3.61 percent for the month of September, an increase of 1.58 percentage points compared to September 2008 when the rate was 2.03 percent.

Foreclosure activity in Sacramento-Arden-Arcade-Roseville-Woodland was higher than the national foreclosure rate, which was 2.93 percent for September 2009, representing a 0.68 percentage point difference.

Also in Sacramento-Arden-Arcade-Roseville-Woodland, the mortgage delinquency rate has increased. According to First American CoreLogic data for September 2009, 10.29 percent of mortgage loans were 90 days or more delinquent compared to 6.35 percent for the same period last year, representing an increase of 3.94 percentage points.

• Chico

Foreclosure rates in Chico increased for the month of September over the same period last year, according to First American CoreLogic.

The rate of foreclosures among outstanding mortgage loans was 2.14 percent for the month of September, an increase of 1.21 percentage points compared to September of 2008 when the rate was 0.93 percent.

Foreclosure activity in Chico was lower than the national foreclosure rate, which was 2.93 percent for September 2009, representing a 0.79 percentage point difference.

Also in Chico, the mortgage delinquency rate has increased.

According to First American CoreLogic data for September 2009, 6.11 percent of mortgage loans were 90 days or more delinquent compared to 3.13 percent for the same period last year, representing an increase of 2.98 percentage points.


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