B.R. foreclosure rate falls in November

Baton Rouge’s foreclosure rate dipped to 2.34% in November from 2.53% in the same month a year prior, according to new data from CoreLogic. That’s considerably lower than the national rate, 3.41%, which was down from 3.46% in November 2010. Louisiana at large posted a November rate of 2.44%, also higher than the local rate, though down from 2.79% from a year ago. Baton Rouge’s mortgage delinquency rate—that is, the percentage of home loans that are more than 90 days delinquent—fell to 5.68%, down from 5.97% a year prior. The national and state mortgage delinquency rates were also higher than the local rate on the month, at 7.23% and 6.22%, respectively. November marked the third straight month foreclosure rates fell in Baton Rouge, reversing three months of increases from June through August, though the swings up and down have not been dramatic. 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. Read the rest of Real Estate Weekly here.