Springfield foreclosures drop 39%

The Springfield foreclosure rate fell to 0.52 percent in February, a 38.8 percent decrease compared to a rate of 0.85 percent in the same month of 2013, according to the latest data provided by real estate market tracker CoreLogic Inc. (NYSE: CLGX).

Activity in Springfield was about a fourth of the U.S. foreclosure rate of 1.93 percent this February. The Missouri foreclosure rate decreased to 0.71 percent in February from 1.08 percent in the same month a year earlier, according to a news release.

The Springfield mortgage delinquency rate - a precursor of foreclosures representing mortgage loans delinquent 90 days or more - dropped to 2.32 percent, down from 2.91 percent a year ago. The rate in Missouri fell to 3.38 percent from 3.94 percent, while the U.S. saw a decrease to 4.83 percent from 6.22 percent, according to CoreLogic.[[In-content Ad]]