Springfield foreclosures decrease

The Springfield foreclosure rate dropped to 0.64 percent in September, according to the latest data from real estate market tracking firm CoreLogic (NYSE: CLGX).

The latest local foreclosure rate - measured by CoreLogic as the percentage of loans in some stage of the foreclosure process - decreased from 0.94 percent in September 2012. However, the most recent data represented a slight increase from 0.63 percent in August of this year, according to a news release.

Springfield sat well below the national average foreclosure rate of 2.29 percent in September - down from 3.25 percent a year ago. The Missouri rate moved down to 0.83 percent in September, compared to 1.22 percent in the same month of 2012.

The Springfield mortgage delinquency rate - a precursor of foreclosures representing mortgage loans 90 days or more delinquent - decreased to 2.49 percent from 3.16 percent for the same period a year ago. The U.S. mortgage delinquency rate dropped to 5.21 percent from 6.69 percent, and the Missouri rate decreased to 3.45 percent from 4.15 percent, according to CoreLogic.