B.R. closes out ’11 with fewer foreclosures

Baton Rouge’s foreclosure rate ended 2011 at 2.4%, a decrease of 0.27 percentage points compared to December 2010, according to a new report out this morning by CoreLogic. The local rate is slightly better than the Louisiana rate of 2.47%, and significantly better than the U.S. rate of 3.37%. Baton Rouge’s mortgage delinquency rate—that is, the percentage of home loans more than three months past due—also dipped to 5.74% in December, a decrease of 0.23 percentage points from the last month of 2010. That’s also slightly better than the Louisiana mortgage delinquency rate of 6.28% and the U.S. rate of 7.23%. With the December decrease, Baton Rouge closed out 2011 with four straight months of declines in the foreclosure rate, more than reversing three months of slight increases from June through August. For historical comparison on foreclosures, Baton Rouge’s rate was 1.28% in January 2009, 2.08% in January 2010, and 2.79% in January 2011.