Foreclosure rates in Jackson and Mississippi as a whole have decreased for the month of December over the same period last year, new data from CoreLogic shows.
California real estate research firm CoreLogic data reveals that the rate of Jackson area foreclosures among outstanding mortgage loans was 2.41 percent for December 2011, a decrease of 0.22 percentage points compared to December of 2010 when the rate was 2.63 percent. Foreclosure activity in Jackson is lower than the national foreclosure rate which was 3.37 percent for December 2011.
Statewide, the foreclosure rate for December showed a decline of 0.22 percent, dropping from 2.41 percent in December of last year from 2.63 percent in December 2010.
Also in Jackson, the mortgage delinquency rate has decreased. According to CoreLogic data for December 2011, 7.58 percent of mortgage loans were 90 days or more delinquent compared to 7.83 percent for the same period last year. On a year-over-year basis, the mortgage delinquency rate has decreased 0.25 percent, CoreLogic data shows.
Statewide, the rate of mortgages tardy by 90 days or more declined to 7.58 percent in December of last year from 2.63 percent in December 2010, according to CoreLogic.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info