Springfield foreclosure rates decline in November

The Springfield-area foreclosure rate among outstanding mortgage loans dropped to 0.82 percent in November, down from 1.27 percent in the same month of 2011, according to the latest data from Santa Ana, Calif.-based real estate data tracking firm CoreLogic (NYSE: CLGX).

The November rate represented a decrease of three-tenths of a point from October.

The area's November foreclosure rate was below the state rate of about 1 percent and the national rate of nearly 3 percent.

The Springfield mortgage delinquency rate - a precursor of foreclosures -  also dropped in November, according to CoreLogic, which said roughly 3 percent of mortgage loans were 90 days or more delinquent, compared to 3.8 percent in the same month of the prior year. In comparison, the November 90-day delinquency rate was 4 percent for Missouri and 6.5 percent for the U.S.