B.R. foreclosure, mortgage delinquency rates down
The percentage of Baton Rouge homes in foreclosure fell to 2.36% in May, according to a report released today by CoreLogic, down from 2.39% the month previous and 2.47% in May 2011. The local mortgage delinquency rate—that is, the percentage of home loans three months past due or more—also fell in May to 5.39%. That's down from 5.54% in April, and 5.59% a year ago. The slight declines in both rates are similar to those seen in April, as well as most months so far this year. The foreclosure rate was 2.41% to start the year, and the mortgage delinquency rate was 5.79%. Baton Rouge's foreclosure rate remains more than a full percentage point below the national average—which also edged down slightly to 3.41% in May. It also remains slightly lower than Louisiana's 2.48% foreclosure rate in May, which was down 0.16 percentage points from the year previous. See a map from CoreLogic detailing foreclosure rates by ZIP code in the Baton Rouge area here.
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