Foreclosures rates continue to fall

SANTA ANA
January 30, 2012 8:49am
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•  Some Valley metros actually below national rate

•  Mortgage delinquencies also drop


Foreclosure rates across the Central Valley fell for another month in November 2011, according to figures released Monday by financial information company CoreLogic Inc. (NYSE: CLGX) of Santa Ana.

And unlike previous months, this time the decline in foreclosures was valley-wide without exceptions.

Here are its individual market summaries for the Valley:

• Foreclosure Rates in Stockton Decrease

Foreclosure rates in Stockton decreased in November 2011 over the same period in 2010, according to newly released data from CoreLogic.

The data reveal that the rate of Stockton area foreclosures among outstanding mortgage loans was 3.74 percent for November 2011, compared to November 2010 when the rate was 4.96 percent.

On a year-over-year basis, the foreclosure rate in Stockton decreased 28.44 percent.

But foreclosure activity in Stockton was higher than the national foreclosure rate, which was 3.41 percent for November 2011.

Also in Stockton, the mortgage delinquency rate decreased. According to CoreLogic data for November 2011, 9.91 percent of mortgage loans were 90 days or more delinquent compared to 14.08 percent for the same period last year. On a year-over-year basis, the mortgage delinquency rate decreased 33.15 percent.

• Foreclosure Rates in Visalia-Porterville Decrease

Foreclosure rates in Visalia-Porterville decreased for the month of November 2011 over the same period a year earlier, according to CoreLogic.

Its data show that the rate of Visalia-Porterville area foreclosures among outstanding mortgage loans was 2.84 percent for November 2011, compared to November 2010 when the rate was 3.42 percent.

On a year-over-year basis, the foreclosure rate in Visalia-Porterville decreased 19.73 percent.

Foreclosure activity in Visalia-Porterville was lower than the national foreclosure rate which was 3.41 percent for November 2011.

Also in Visalia-Porterville, the mortgage delinquency rate decreased. According to CoreLogic, 7.90 percent of mortgage loans were 90 days or more delinquent in November 2011 compared to 10.42 percent for the same period a year earlier. On a year-over-year basis, the mortgage delinquency rate decreased 26.69 percent.

• Foreclosure Rates in Hanford-Corcoran Decrease

Foreclosure rates in Hanford-Corcoran decreased for the month of November 2011 over November 2010, according to CoreLogic.

It says that the rate of Hanford-Corcoran area foreclosures among outstanding mortgage loans was 2.69 percent November 2011, compared to November of 2010 when the rate was 3.26 percent.

On a year-over-year basis, the foreclosure rate in Hanford-Corcoran decreased 19.59 percent. Foreclosure activity in Hanford-Corcoran was lower than the national foreclosure rate, which was 3.41 percent for November 2011.

Also in Hanford-Corcoran, the mortgage delinquency rate has decreased. According to CoreLogic, for November 2011, 7.65 percent of mortgage loans were 90 days or more delinquent compared to 9.80 percent for the same period in 2010. On a year-over-year basis, the mortgage delinquency rate has decreased 23.89 percent.

• Foreclosure Rates in Bakersfield-Delano Decrease

Foreclosure rates in Bakersfield-Delano decreased in November 2011 compared to a year earlier, says CoreLogic.

Its data show that the rate of Bakersfield-Delano area foreclosures among outstanding mortgage loans was 3.30 percent in November 2011, compared to November 2010 when the rate was 4.48 percent.

On a year-over-year basis, the foreclosure rate in Bakersfield-Delano decreased 29.47 percent. Foreclosure activity in Bakersfield-Delano was lower than the national foreclosure rate, which was 3.41 percent for November 2011.

Also in Bakersfield-Delano, the mortgage delinquency rate decreased. According to CoreLogic data for November 2011, 8.46 percent of mortgage loans were 90 days or more delinquent compared to 12.11 percent for the same period in 2010. On a year-over-year basis, the mortgage delinquency rate has decreased 33.19 percent.

• Foreclosure Rates in Metro Sacramento Decrease

Foreclosure rates in metropolitan Sacramento, which includes the unincorporated Arden-Arcade area plus the city of Roseville decreased in November 2011 over the same period in 2010, according to data from CoreLogic.

The rate of Sacramento area foreclosures among outstanding mortgage loans was 2.96 percent for November 2011, compared to November 2010 when the rate was 3.62 percent, says CoreLogic.

On a year-over-year basis, the foreclosure rate in metro Sacramento decreased 22.20 percent. Foreclosure activity in the Sacramento MSA was lower than the national foreclosure rate, which was 3.41 percent for November 2011.

Also in Sacramento, the mortgage delinquency rate decreased. According to CoreLogic data for November 2011, 7.78 percent of mortgage loans were 90 days or more delinquent compared to 10.20 percent for the same period a year earlier. On a year-over-year basis, the mortgage delinquency rate has decreased 27.37 percent.

• Foreclosure Rates in Modesto Decrease

Foreclosure rates in Modesto decreased for the month of November 2011 over the same period a year earlier, says CoreLogic.

The data say that the rate of Modesto area foreclosures among outstanding mortgage loans was 3.69 percent for the month of November 2011, compared to November of 2010 when the rate was 4.85 percent.

On a year-over-year basis, the foreclosure rate in Modesto decreased 29.35 percent. Foreclosure activity in Modesto was higher than the national foreclosure rate, which was 3.41 percent for November 2011.

Also in Modesto, the mortgage delinquency rate decreased. According to CoreLogic data for November 2011, 9.41 percent of mortgage loans were 90 days or more delinquent compared to 13.36 percent for the same period in 2010. On a year-over-year basis, the mortgage delinquency rate has decreased 34.72 percent.

• Foreclosure Rates in Merced Decrease

Foreclosure rates in Merced decreased in November 2011, compared to November 2010, according to newly released data from CoreLogic.

The rate of Merced area foreclosures among outstanding mortgage loans was 3.89 percent for November 2011, compared to November 2010 when the rate was 5.47 percent.

On a year-over-year basis, the foreclosure rate in Merced decreased 33.74 percent. Foreclosure activity in Merced is higher than the national foreclosure rate which was 3.41 percent for November 2011.

Also in Merced, the mortgage delinquency rate decreased. According to CoreLogic, for November 2011, 9.52 percent of mortgage loans were 90 days or more delinquent compared to 14.58 percent for the same period a year earlier. On a year-over-year basis, the mortgage delinquency rate decreased 39.25 percent.

• Foreclosure Rates in Chico Decrease

Foreclosure rates in Chico decreased for the month of November 2011 over the same period in 2010, according to CoreLogic.

Its data show that the rate of Chico area foreclosures among outstanding mortgage loans was 2.34 percent for the month November 2011, compared to November 2010 when the rate was 2.50 percent.

On a year-over-year basis, the foreclosure rate in Chico decreased 11.43 percent. Foreclosure activity in Chico was lower than the national foreclosure rate, which was 3.41 percent for November 2011.

Also in Chico, the mortgage delinquency rate decreased. According to CoreLogic, 5.66 percent of mortgage loans were 90 days or more delinquent in November 2011 compared to 6.59 percent for the same period in 2010. On a year-over-year basis, the mortgage delinquency rate has decreased 18.79 percent.

• Foreclosure Rates in Madera-Chowchilla Decrease

Foreclosure rates in Madera-Chowchilla decreased in November 2011 over November 2010, says CoreLogic.

Is data reveal that the rate of Madera-Chowchilla area foreclosures among outstanding mortgage loans was 3.50 percent for November 2011, compared to November 2010 when the rate was 4.88 percent.

On a year-over-year basis, the foreclosure rate in Madera-Chowchilla decreased 32.33 percent. Foreclosure activity in Madera-Chowchilla was higher than the national foreclosure rate, which was 3.41 percent for November 2011.

Also in Madera-Chowchilla, the mortgage delinquency rate decreased. According to CoreLogic data for November 2011, 8.95 percent of mortgage loans were 90 days or more delinquent compared to 12.79 percent for the same period in 2010. On a year-over-year basis, the mortgage delinquency rate has decreased 34.09 percent.

• Foreclosure Rates in Fresno Decrease

Foreclosure rates in Fresno decreased for November 2011 over November 2010, according to CoreLogic.

It says that the rate of Fresno area foreclosures among outstanding mortgage loans was 3.01 percent for November 2011, compared to November 2010 when the rate was 3.55 percent.

On a year-over-year basis, the foreclosure rate in Fresno decreased 18.80 percent. Foreclosure activity in Fresno was lower than the national foreclosure rate in November 2011, which was 3.41 percent.

Also in Fresno, the mortgage delinquency rate decreased. According to CoreLogic data, 7.72 percent of mortgage loans were 90 days or more delinquent in November 2011, compared to 10.24 percent for the same period last year. On a year-over-year basis, the mortgage delinquency rate has decreased 27.87 percent.

CoreLogic says that this report reflects a revision in the way the year-over-year differences are calculated. Previously, the calculation was a percentage point difference in the current year versus prior year rates. Moving forward, the year-over-year change is calculated as a percent increase/decrease difference in the current versus prior year.


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