Springfield foreclosures dip alongside US, state

The July foreclosure rates in Springfield, statewide and across the United States dipped compared with the same month a year earlier, according to data released today from real estate market tracker CoreLogic.

The Queen City’s foreclosure rate came to 0.41 percent, ticking down from 0.43 percent in July 2015. CoreLogic defines the rate as loans in some stage of the foreclosure process. Springfield’s rate was the third lowest so far this year, after 0.4 percent in June and 0.37 percent in March, according to a news release.

The nation recorded the largest year-to-year decrease through July. During the month, the U.S. foreclosure rate was 0.93 percent, a drop from 1.28 percent in July 2015. Missouri’s rate fell to 0.47 percent from 0.63 percent. 

The United States also led decreases in the mortgage delinquency rate, referring to loans at least 90 days delinquent. The country’s figure moved down to 2.82 percent in July from 3.56 percent a year earlier, according to the release.

Springfield's mortgage delinquency rate ticked down to 1.55 percent from 1.83 percent, and Missouri's mortgage delinquency rate dropped to 2.27 percent from 2.79 percent.