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Foreclosures continue to drop in Mississippi and Jackson

Foreclosure rates in Jackson decreased in November over the same period last year, according to newly released data from CoreLogic, a California-based real estate data company.

36572614Statewide, the November rate came in at 0.99 percent, a significant improvement from the previous November’s 1.49 percent. Mississippi’s 90-day delinquency rate also improved in November, dropping to 5.57 percent from 6.62 percent.

The CoreLogic data shows that the rate of Jackson area foreclosures among outstanding mortgage loans was 0.92 percent for November 2014, a decrease of 0.41 percentage points compared to November of 2013 when the rate was 1.33 percent. Foreclosure activity in Jackson was lower than the national foreclosure rate, which was 1.48 percent for November 2014.

Also in Jackson, the mortgage delinquency rate decreased. According to CoreLogic data for November 2014, 5.52 percent of mortgage loans were 90 days or more delinquent compared to 5.89 percent for the same period last year, representing a decrease of 0.37 percentage points.

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