Springfield foreclosure rate drops in March

The Springfield foreclosure rate dropped in March compared to the same month a year ago, according to the latest data released from real estate market tracker CoreLogic (NYSE: CLGX).

Released this morning, the data show Springfield foreclosures among outstanding mortgage loans were 0.82 percent in March, a drop from 1.19 percent in the corresponding month of 2012, according to a May 23 news release. The foreclosure rate measures the percentage of loans that are in some stage of the foreclosure process.

CoreLogic reports the Missouri foreclosure rate was 1.07 percent in March, while the U.S. rate was 3.49 percent.

The Springfield mortgage delinquency rate - a precursor of foreclosures representing mortgage loans 90 days or more delinquent - was 2.78 percent in March, down from 3.45 percent a year before. The Missouri rate registered at 3.78 percent, and the U.S. delinquency rate was 6.01 percent, according to the release.