Springfield foreclosures decline to lowest rate in 2015

Springfield’s foreclosure rate dropped to 0.37 percent in October, the lowest rate so far in the year.

Representing foreclosures among outstanding mortgage loans, the rate is down from 0.5 percent in the same month of 2014, according to a news release from real estate market tracker CoreLogic. Springfield’s rate peaked so far this year at 0.47 percent in February.

Missouri’s rate registered at 0.5 percent in October, down from 0.6 percent last year. The U.S. average moved down to 1.2 percent from 1.5 percent.

The Queen City’s mortgage delinquency rate - the percentage of loans at least 90 days delinquent - was 1.6 percent in October, a decrease from 2 percent in the same month of 2014, according to CoreLogic.

Missouri’s delinquency rate declined to 2.5 percent from 3 percent, and the U.S. average decreased to 3.4 percent from 4.1 percent last year.