Springfield foreclosures fall in July

Springfield's foreclosure rate registered at 0.67 percent in July, a decrease of 0.41 percentage points compared to the same month a year ago.

The local rate - measuring the percentage of loans in some stage of the foreclosure process - was recorded at 1.08 percent in July 2012, according to a news release from real estate market tracker CoreLogic (NYSE: CLGX). The Springfield foreclosure rate came in at 0.7 percent in June.

The Missouri foreclosure rate in July dropped to 0.89 percent from 1.33 percent in the same month a year ago, while the U.S. rate decreased to 2.43 percent from 3.37 percent. In June, the Missouri rate registered at 0.93 percent, and the U.S. rate was recorded at 2.49 percent.

The Springfield mortgage delinquency rate - a precursor of foreclosures representing mortgage loans 90 days or more delinquent - was 2.55 percent in July, a decrease from 3.27 percent in the same month of 2012. The Missouri mortgage delinquency rate dropped to 3.51 percent from 4.23 percent, and the U.S. rate decreased to 5.44 percent from 6.85 percent, according to CoreLogic.[[In-content Ad]]