Springfield foreclosure rate drops

The Springfield foreclosure rate dropped to 0.45 percent in July, down from 0.67 percent in the same month a year earlier, according to real estate market tracker CoreLogic.

Measuring the percentage of mortgage loans in some stage of the foreclosure process, the Queen City's foreclosure rate also was down a tenth of a point from June, according to a news release.

The national foreclosure rate came in at 1.66 percent in July, lower than the 2.44 percent rate in the same month of 2013. Missouri's rate dropped to 0.64 percent from 0.89 percent a year ago.

Springfield's July mortgage delinquency rate - a precursor of foreclosures representing mortgage loans delinquent by at least 90 days - was 2.14 percent in July, a drop from 2.55 percent in the same month of last year. The Missouri 90-day delinquency rate fell to 3.06 percent from 3.52 percent, while the U.S. rate decreased to 4.32 percent from 5.45 percent in July 2013, according to the release.