CoreLogic: Foreclosure rates in Merced dropped in October year-to-year

Foreclosure rates in Merced have decreased for the month of October over the same period last year, according to newly released data from CoreLogic.

The CoreLogic data reveal that the rate of Merced area foreclosures among outstanding mortgage loans is 3.95 percent for the month of October 2011, a decrease of 1.26 percentage points compared to October of 2010 when the rate was 5.21 percent.* Foreclosure activity in Merced is higher than the national foreclosure rate which was 3.51 percent for October 2011, representing a 0.44 percentage point difference.

Also in Merced, the mortgage delinquency rate has decreased. According to CoreLogic data for October 2011, 9.81 percent of mortgage loans were 90 days or more delinquent compared to 14.89 percent for the same period last year, representing a decrease of 5.08 percentage points.*

* Data and percentage point differences are rounded to the nearest tenth and may appear to affect calculations.