Springfield foreclosures drop in June

The Queen City's foreclosure rate dropped to 0.46 percent in June, down from 0.7 percent in the same month of 2013, according to real estate market tracker CoreLogic.

The Springfield foreclosure rate - the percentage of mortgage loans in some stage of the foreclosure process - was lower than the June national foreclosure rate of 1.7 percent and the Missouri rate of 0.65 percent, according to a news release.

During June, Missouri's rate fell from 0.93 percent a year ago, while the U.S. rate decreased from 2.5 percent.

Springfield's June mortgage delinquency rate - a precursor of foreclosures representing mortgage loans delinquent by at least 90 days - eased to 2.19 percent from 2.58 percent a year earlier. The Missouri rate dropped to 3.09 percent from 3.55 percent, and the U.S. rate decreased to 4.38 percent from 5.57 percent, according to the release.

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