Tuesday, September 25, 2018
Business

Tampa Bay foreclosure rates continue to fall

Tampa Bay's foreclosure and mortgage delinquency rates continue to fall substantially, although they still are above the national averages.

According to CoreLogic, 1.6 percent of all Tampa Bay homes with mortgages were in some stage of foreclosure in January, a full percentage point lower than at the same time last year. Nationally, the foreclosure rate was 0.8 percent, down from 1.1 percent a year earlier.

The percentage of Tampa Bay borrowers at least 30 days late on their mortgages dropped to 6.3 percent in January, down from 8.7 percent the previous year. The percentage who were "seriously delinquent'' — at least 90 days late — declined two points to 3.7 percent. The national 30-day and 90-day delinquency rates in January were 5.3 percent and 2.5 percent, respectively.\

Nationally, delinquencies are at their lowest point in 10 years, a result of steady income and job growth, CoreLogic said.

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