Springfield foreclosures fall in April

The Springfield foreclosure rate dropped to 0.49 percent in April, down from 0.8 percent in the same month a year earlier, according to data released today by real estate market tracker CoreLogic Inc. (NYSE: CLGX).

The foreclosure rate - the percentage of mortgage loans in some stage of the foreclosure process - was lower in Springfield than in Missouri as a whole, which dropped to 0.64 percent in April from 0.99 percent a year earlier. The U.S. foreclosure rate saw a decrease to 1.77 percent from 2.66 percent in April 2013, according to a news release.

Springfield's April foreclosure rate increased from 0.48 percent in March, but shows improvement over the February figure of 0.52 percent and 0.54 percent in January.

The Springfield mortgage delinquency rate - a precursor of foreclosures representing mortgage loans delinquent by at least 90 days - decreased to 2.2 percent during April, compared to 2.69 percent a year earlier. The Missouri rate dropped to 3.17 percent from 3.64 percent, and the U.S. rate fell to 4.54 percent from 5.78 percent, according to CoreLogic.

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