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SD foreclosure rate falls in September from 2011

Foreclosure rates in the San Diego-Carlsbad-San Marcos metro area decreased for the month of September over the same period last year, according to newly released data from CoreLogic.

The rate of San Diego-Carlsbad-San Marcos area foreclosures among outstanding mortgage loans was 1.59 percent for the month of September 2012, a decrease of 0.65 percentage points compared to September of 2011 when the rate was 2.24 percent. Foreclosure activity in San Diego-Carlsbad-San Marcos was lower than the national foreclosure rate, which was 3.25 percent for September 2012.

The mortgage delinquency rate decreased 1.59 percent from September 2011 to September 2012. According to CoreLogic data for September 2012, 4.85 percent of mortgage loans were 90 days or more delinquent compared to 6.44 percent for the same period last year.

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