Tacoma, Lakewood mortgage foreclosure rates fall some more

Foreclosure rates in the Tacoma-Lakewood area fell 0.84 percentage points in May when compared to May, 2014.

The data analysis firm CoreLogic reported Tuesday that the foreclosure rate among outstanding mortgages in May was 1.88 percent in the region, compared with 2.72 percent the year before. The latest figure is the lowest recorded in Tacoma for at least the past 17 months.

The local foreclosure rate in May was higher than both the national rate, at 1.29 percent, and the statewide rate, at 1.10 percent.

The delinquency rate, which records mortgage loans that were delinquent for 90 days or more, also fell in the Tacoma area. The May figure of 4.64 percent was down 1.74 percentage points from the 6.38 percent figure noted in May 2014.

The delinquency rate in the Tacoma area was higher than rates announced both nationally, at 3.58 percent in May, and statewide, where the rate stood at 2.82 percent.

This story was originally published July 28, 2015 at 6:26 AM with the headline "Tacoma, Lakewood mortgage foreclosure rates fall some more."