Business

Tacoma-area foreclosure rates drop

Foreclosure rates in the Tacoma area dropped from 3.6 percent in April 2013 to 2.71 percent in April this year, new figures from CoreLogic reveal.

Even so, however, the Tacoma-area foreclosure rates remained above both the national and state averages, those same statistics show. The national average foreclosure rate was 1.77 percent in April. The Washington average was 1.63 percent.

Mortgage delinquencies reflect that same pattern. Home mortgages overdue 90 days or more were 6.54 percent in the Tacoma-Lakewood area, said CoreLogic. In the state, that rate is 4.08 percent. In the nation, the figure is 4.54 percent.

The Tacoma-Lakewood figures for delinquencies nonetheless are a significant improvement over the rates in April 2013 (8.81 percent) and from January of last year when that figure was just shy of 10 percent.

The foreclosure rate has on a steady downward path since March of 2013

  Comments