Central Valley foreclosure rates drop even more

IRVINE
October 25, 2012 5:49am

Is the Central Valley no longer the epicenter of the nation’s foreclosure crisis? The region, which plunged faster and further than virtually all other parts of the nation when the housing bubble burst, now has foreclosure rates lower than the national average.

The August figures are reported Thursday by financial information company CoreLogic Inc. (NYSE: CLGX) of Irvine.

In every market in the Valley tracked by the firm, foreclosure rates dropped in August from a year before and were below the national average.

Here are CoreLogic’s summaries for specific Central Valley markets:

• Foreclosure rates in Stockton decreased in August over the same period last year, according to newly released data from CoreLogic.

The data reveal that the rate of Stockton area foreclosures among outstanding mortgage loans was 2.90 percent in August 2012, a decrease of 0.77 percentage points compared to August of 2011 when the rate was 3.67 percent.

Foreclosure activity in Stockton was lower than the national foreclosure rate, which was 3.35 percent for August 2012.

Also in Stockton, the mortgage delinquency rate decreased. According to CoreLogic data for August 2012, 7.82 percent of mortgage loans were 90 days or more delinquent compared to 10.65 percent for the same period last year, representing a decrease of 2.83 percentage points.

• Foreclosure rates in Visalia-Porterville decreased in August over the same period last year, according to newly released data from CoreLogic.

The data reveal that the rate of Visalia-Porterville area foreclosures among outstanding mortgage loans was 2.48 percent in August 2012, a decrease of 0.12 percentage points compared to August of 2011 when the rate was 2.60 percent.

Foreclosure activity in Visalia-Porterville was lower than the national foreclosure rate, which was 3.35 percent for August 2012.

Also in Visalia-Porterville, the mortgage delinquency rate decreased. According to CoreLogic data for August 2012, 6.39 percent of mortgage loans were 90 days or more delinquent compared to 8.14 percent for the same period last year, representing a decrease of 1.75 percentage points.

• Foreclosure rates in Hanford-Corcoran decreased in August over the same period last year, according to newly released data from CoreLogic.

The data reveal that the rate of Hanford-Corcoran area foreclosures among outstanding mortgage loans was 2.18 percent in August 2012, a decrease of 0.37 percentage points compared to August of 2011 when the rate was 2.55 percent.

Foreclosure activity in Hanford-Corcoran was lower than the national foreclosure rate, which was 3.35 percent for August 2012.

Also in Hanford-Corcoran, the mortgage delinquency rate decreased. According to CoreLogic data for August 2012, 6.78 percent of mortgage loans were 90 days or more delinquent compared to 7.72 percent for the same period last year, representing a decrease of 0.94 percentage points.

• Foreclosure rates in Bakersfield-Delano decreased in August over the same period last year, according to newly released data from CoreLogic.

The data reveal that the rate of Bakersfield-Delano area foreclosures among outstanding mortgage loans was 2.42 percent in August 2012, a decrease of 0.72 percentage points compared to August of 2011 when the rate was 3.14 percent.

Foreclosure activity in Bakersfield-Delano was lower than the national foreclosure rate, which was 3.35 percent for August 2012.

Also in Bakersfield-Delano, the mortgage delinquency rate decreased. According to CoreLogic data for August 2012, 6.53 percent of mortgage loans were 90 days or more delinquent compared to 9.01 percent for the same period last year, representing a decrease of 2.48 percentage points.

• Foreclosure rates in metro Sacramento, which includes the unincorporated Arden-Arcade neighborhood plus the city of Roseville, decreased in August over the same period last year, according to newly released data from CoreLogic.

The data reveal that the rate of metro Sacramento area foreclosures among outstanding mortgage loans was 2.23 percent in August 2012, a decrease of 0.62 percentage points compared to August of 2011 when the rate was 2.85 percent.

Foreclosure activity in metro Sacramento was lower than the national foreclosure rate, which was 3.35 percent for August 2012.

Also in Sacramento, the mortgage delinquency rate decreased. According to CoreLogic data for August 2012, 6.17 percent of mortgage loans were 90 days or more delinquent compared to 8.25 percent for the same period last year, representing a decrease of 2.08 percentage points.

• Foreclosure rates in Modesto decreased in August over the same period last year, according to newly released data from CoreLogic.

The data reveal that the rate of Modesto area foreclosures among outstanding mortgage loans was 2.56 percent in August 2012, a decrease of 0.92 percentage points compared to August of 2011 when the rate was 3.48 percent.

Foreclosure activity in Modesto was lower than the national foreclosure rate, which was 3.35 percent for August 2012.

Also in Modesto, the mortgage delinquency rate decreased. According to CoreLogic data for August 2012, 7.27 percent of mortgage loans were 90 days or more delinquent compared to 9.96 percent for the same period last year, representing a decrease of 2.69 percentage points.

• Foreclosure rates in Merced decreased in August over the same period last year, according to newly released data from CoreLogic.

The data reveal that the rate of Merced area foreclosures among outstanding mortgage loans was 2.87 percent in August 2012, a decrease of 0.98 percentage points compared to August of 2011 when the rate was 3.85 percent.

Foreclosure activity in Merced was lower than the national foreclosure rate, which was 3.35 percent for August 2012.

Also in Merced, the mortgage delinquency rate decreased. According to CoreLogic data for August 2012, 7.25 percent of mortgage loans were 90 days or more delinquent compared to 10.19 percent for the same period last year, representing a decrease of 2.94 percentage points.

• Foreclosure rates in Madera-Chowchilla decreased in August over the same period last year, according to newly released data from CoreLogic.

The data reveal that the rate of Madera-Chowchilla area foreclosures among outstanding mortgage loans was 2.93 percent in August 2012, a decrease of 0.56 percentage points compared to August of 2011 when the rate was 3.49 percent.

Foreclosure activity in Madera-Chowchilla was lower than the national foreclosure rate, which was 3.35 percent for August 2012.

Also in Madera-Chowchilla, the mortgage delinquency rate decreased. According to CoreLogic data for August 2012, 7.24 percent of mortgage loans were 90 days or more delinquent compared to 9.57 percent for the same period last year, representing a decrease of 2.33 percentage points.

• Foreclosure rates in Chico decreased in August over the same period last year, according to newly released data from CoreLogic.

The data reveal that the rate of Chico area foreclosures among outstanding mortgage loans was 2.03 percent in August 2012, a decrease of 0.27 percentage points compared to August of 2011 when the rate was 2.30 percent.

Foreclosure activity in Chico was lower than the national foreclosure rate, which was 3.35 percent for August 2012.

Also in Chico, the mortgage delinquency rate decreased. According to CoreLogic data for August 2012, 4.98 percent of mortgage loans were 90 days or more delinquent compared to 5.93 percent for the same period last year, representing a decrease of 0.95 percentage points.

• Foreclosure rates in Fresno decreased in August over the same period last year, according to newly released data from CoreLogic.

The data reveal that the rate of Fresno area foreclosures among outstanding mortgage loans was 2.43 percent in August 2012, a decrease of 0.42 percentage points compared to August of 2011 when the rate was 2.85 percent.

Foreclosure activity in Fresno was lower than the national foreclosure rate, which was 3.35 percent for August 2012.

Also in Fresno, the mortgage delinquency rate decreased. According to CoreLogic data for August 2012, 6.42 percent of mortgage loans were 90 days or more delinquent compared to 8.13 percent for the same period last year, representing a decrease of 1.71 percentage points.