CoreLogic: Merced foreclosure rates dropped 34% in November over one year earlier

Foreclosure rates in Merced have decreased for the month of November over the same period last year, according to newly released data from CoreLogic, the Santa Ana-based research and analysis firm.

The CoreLogic data reveals that the rate of Merced area foreclosures among outstanding mortgage loans is 3.89 percent for the month of November 2011, compared to November of 2010 when the rate was 5.47 percent.* On a year-over-year basis, the foreclosure rate in Merced decreased 33.74 percent. Foreclosure activity in Merced is higher than the national foreclosure rate which was 3.41 percent for November 2011.

Also in Merced, the mortgage delinquency rate has decreased. According to CoreLogic data for November 2011, 9.52 percent of mortgage loans were 90 days or more delinquent compared to 14.58 percent for the same period last year. On a year-over-year basis, the mortgage delinquency rate has decreased 39.25 percent.*

* The year-over-year percent change is calculated directly from the CoreLogic database of property-level data which provides a more accurate representation of the trends than a simple percentage point difference calculation which was previously provided. Because the year-over-year percent change is not calculated using the current and prior year rates listed here, in some cases, the actual year-over-year calculation will reflect no change even though the current and prior year rates differ.

Merced, 90+ Day Delinquency Rate Foreclosure Rate November 2011 9.52% 3.89% October 2011 9.81% 3.95% September 2011 9.96% 3.94% August 2011 10.13% 3.80% July 2011 10.54% 3.84% June 2011 11.01% 3.88% May 2011 11.56% 3.99% April 2011 12.15% 4.27% March 2011 12.63% 4.70% February 2011 13.36% 5.02% January 2011 13.88% 5.20% December 2010 14.20% 5.44% November 2010 14.58% 5.47% October 2010 14.89% 5.21% September 2010 15.78% 5.32% August 2010 16.02% 5.32% July 2010 16.46% 5.15% June 2010 16.97% 5.16% May 2010 17.58% 5.16% April 2010 18.07% 5.25% March 2010 18.73% 5.61% February 2010 19.27% 5.80% January 2010 19.56% 5.85% December 2009 19.58% 6.18% November 2009 19.62% 6.43% October 2009 19.34% 6.59% September 2009 19.02% 6.54% August 2009 18.40% 6.68% July 2009 17.84% 6.50% June 2009 18.12% 6.41% May 2009 18.01% 6.68% April 2009 17.67% 6.58% March 2009 17.25% 6.40% February 2009 17.59% 5.53% January 2009 17.00% 5.03% Source: CoreLogic.