Foreclosures, delinquent mortgages decline in Pierce County

Both foreclosure rates and delinquent mortgages declined substantially in Pierce County in October, a new national survey shows.

But Pierce County’s foreclosure rate and mortgage delinquency rate remain above the national average, said CoreLogic, a global property data firm.

In October, 1.74 percent of Pierce County homes were in foreclosure. That compares with 2.28 percent a year earlier. The national foreclosure rate in October was 1.2 percent, down from 1.53 percent in October 2014.

Delinquent mortgages, defined as those 90 or more days overdue, also dropped in October. That delinquency rate was 4.12 percent in October in Pierce County. In October 2014, the Pierce County rate was 5.69 percent.

As recently as January 2014, the delinquency rate was more than three percentage points higher at 7.27 percent. Foreclosures in Pierce County that same month were 2.94 percent.

This story was originally published December 31, 2015 at 12:42 PM with the headline "Foreclosures, delinquent mortgages decline in Pierce County."