Springfield foreclosure rate falls in April

The Springfield foreclosure rate dropped to 0.79 percent in April, according to the latest data released from real estate market tracker CoreLogic (NYSE: CLGX).

Compared to the same month a year ago, the April rate dropped 0.45 percentage points from 1.24 percent. The foreclosure rate measures the percentage of loans that are in some stage of the foreclosure process.

According to a June 25 news release, the Missouri foreclosure rate dropped to 0.99 percent in April from 1.52 percent a year before and the U.S. rate fell to 2.65 percent from 3.51 percent.

The Springfield mortgage delinquency rate - a precursor of foreclosures representing mortgage loans 90 days or more delinquent - was 2.69 percent in April, down from 3.37 percent a year before. The Missouri rate was recorded at 3.62 percent, while the U.S. delinquency rate was 5.76 percent, according to the release.