Foreclosure rates fall across the Central Valley

IRVINE
November 20, 2012 6:49am

California’s Central Valley – where the nation’s foreclosure tsunami washed deeper and wider than virtually any place else, may be seeing a housing rebound.

According to a report Tuesday from financial information company CoreLogic Inc. (NASDAQ: CLGX) of Irvine, foreclosure rates in every Central Valley metropolitan area that it follows dropped in September when compared to a year earlier.

Here are CoreLogic’s summaries for the Valley:

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

The CoreLogic data reveals that the rate of Stockton area foreclosures among outstanding mortgage loans was 2.65 percent in September 2012, a decrease of 1.31 percentage points compared to September 2011 when the rate was 3.96 percent. Foreclosure activity in Stockton was lower than the national foreclosure rate, which was 3.25 percent for September 2012.

Also in Stockton, the mortgage delinquency rate decreased. According to CoreLogic data for September 2012, 7.53 percent of mortgage loans were 90 days or more delinquent compared to 10.45 percent for the same period last year, representing a decrease of 2.92 percentage points.

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

The CoreLogic data reveals that the rate of Visalia-Porterville area foreclosures among outstanding mortgage loans was 2.26 percent in September 2012, a decrease of 0.56 percentage points compared to September 2011 when the rate was 2.82 percent. Foreclosure activity in Visalia-Porterville was lower than the national foreclosure rate, which was 3.25 percent for September 2012.

Also in Visalia-Porterville, the mortgage delinquency rate decreased. According to CoreLogic data for September 2012, 6.22 percent of mortgage loans were 90 days or more delinquent compared to 8.07 percent for the same period last year, representing a decrease of 1.85 percentage points.

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

The CoreLogic data reveals that the rate of Modesto area foreclosures among outstanding mortgage loans was 2.41 percent in September 2012, a decrease of 1.29 percentage points compared to September 2011 when the rate was 3.70 percent. Foreclosure activity in Modesto was lower than the national foreclosure rate, which was 3.25 percent for September 2012.

Also in Modesto, the mortgage delinquency rate decreased. According to CoreLogic data for September 2012, 6.90 percent of mortgage loans were 90 days or more delinquent compared to 9.76 percent for the same period last year, representing a decrease of 2.86 percentage points.

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

The CoreLogic data reveals that the rate of metro Sacramento area foreclosures among outstanding mortgage loans was 2.05 percent in September 2012, a decrease of 1.02 percentage points compared to September 2011 when the rate was 3.07 percent. Foreclosure activity in metro Sacramento was lower than the national foreclosure rate, which was 3.25 percent for September 2012.

Also in metropolitan Sacramento, the mortgage delinquency rate decreased. According to CoreLogic data for September 2012, 5.90 percent of mortgage loans were 90 days or more delinquent compared to 8.12 percent for the same period last year, representing a decrease of 2.22 percentage points.

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

The CoreLogic data reveals that the rate of Merced area foreclosures among outstanding mortgage loans was 2.54 percent in September 2012, a decrease of 1.44 percentage points compared to September 2011 when the rate was 3.98 percent. Foreclosure activity in Merced was lower than the national foreclosure rate, which was 3.25 percent for September 2012.

Also in Merced, the mortgage delinquency rate decreased. According to CoreLogic data for September 2012, 6.93 percent of mortgage loans were 90 days or more delinquent compared to 10.04 percent for the same period last year, representing a decrease of 3.11 percentage points.

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

The CoreLogic data reveals that the rate of Bakersfield-Delano area foreclosures among outstanding mortgage loans was 2.23 percent in September 2012, a decrease of 1.12 percentage points compared to September 2011 when the rate was 3.35 percent. Foreclosure activity in Bakersfield-Delano was lower than the national foreclosure rate, which was 3.25 percent for September 2012.

Also in Bakersfield-Delano, the mortgage delinquency rate decreased. According to CoreLogic data for September 2012, 6.26 percent of mortgage loans were 90 days or more delinquent compared to 8.80 percent for the same period last year, representing a decrease of 2.54 percentage points.

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

The CoreLogic data reveals that the rate of Hanford-Corcoran area foreclosures among outstanding mortgage loans was 2.17 percent in September 2012, a decrease of 0.55 percentage points compared to September 2011 when the rate was 2.72 percent. Foreclosure activity in Hanford-Corcoran was lower than the national foreclosure rate, which was 3.25 percent for September 2012.

Also in Hanford-Corcoran, the mortgage delinquency rate decreased. According to CoreLogic data for September 2012, 6.70 percent of mortgage loans were 90 days or more delinquent compared to 7.67 percent for the same period last year, representing a decrease of 0.97 percentage points.

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

The CoreLogic data reveals that the rate of Madera-Chowchilla area foreclosures among outstanding mortgage loans was 2.71 percent in September 2012, a decrease of 0.88 percentage points compared to September 2011 when the rate was 3.59 percent. Foreclosure activity in Madera-Chowchilla was lower than the national foreclosure rate, which was 3.25 percent for September 2012.

Also in Madera-Chowchilla, the mortgage delinquency rate decreased. According to CoreLogic data for September 2012, 7.05 percent of mortgage loans were 90 days or more delinquent compared to 9.33 percent for the same period last year, representing a decrease of 2.28 percentage points.

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

The CoreLogic data reveals that the rate of Chico area foreclosures among outstanding mortgage loans was 1.95 percent in September 2012, a decrease of 0.57 percentage points compared to September 2011 when the rate was 2.52 percent. Foreclosure activity in Chico was lower than the national foreclosure rate, which was 3.25 percent for September 2012.

Also in Chico, the mortgage delinquency rate decreased. According to CoreLogic data for September 2012, 4.83 percent of mortgage loans were 90 days or more delinquent compared to 5.96 percent for the same period last year, representing a decrease of 1.13 percentage points.

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

The CoreLogic data reveals that the rate of Fresno area foreclosures among outstanding mortgage loans was 2.23 percent in September 2012, a decrease of 0.84 percentage points compared to September 2011 when the rate was 3.07 percent. Foreclosure activity in Fresno was lower than the national foreclosure rate, which was 3.25 percent for September 2012.

Also in Fresno, the mortgage delinquency rate decreased. According to CoreLogic data for September 2012, 6.18 percent of mortgage loans were 90 days or more delinquent compared to 7.99 percent for the same period last year, representing a decrease of 1.81 percentage points.