CoreLogic: Merced foreclosure rates and mortgage delinquency rates drop

Foreclosure rates in Merced have decreased for the month of May over the same period last year, according to CoreLogic.

The rate of foreclosures among outstanding mortgage loans in Merced is 3.99 percent for the month of May, a decrease of 1.17 percentage points compared to May of 2010 when the rate was 5.16 percent. Foreclosure activity in Merced is higher than the national foreclosure rate which was 3.45 percent for May, representing a 0.54 percentage point difference.

Also in Merced, the mortgage delinquency rate has decreased. According to CoreLogic data for May, 11.57 percent of mortgage loans were 90 days or more delinquent compared to 17.59 percent for the same period last year, representing a decrease of 6.02 percentage points.

Santa Ana-based CoreLogic provides consumer, financial and property information, analytics and services to business and government.

--Sun-Star Staff