B.R. foreclosure rate in March hovers near 2.4%

A new report from CoreLogic says the foreclosure rate in Baton Rouge stood at 2.41% in March, down from 2.67% during the same month a year previous but up a scant 0.01% from February. Baton Rouge’s foreclosure rate has hovered around the 2.4% mark since last summer, when it fell to that level from a peak high of 2.8% in February 2011. That’s put it slightly lower than Louisiana’s rate, which was at 2.5% in March, down from 2.85% a year previous but also up from February, a mere 0.02%. The foreclosure rates in both Baton Rouge and Louisiana at large have remained well below the U.S. rate in recent years. Nationwide, the March rate stood a full percentage point higher than Baton Rouge’s, at 3.41%. That was down from 3.54% in March 2011 and unchanged from February. The mortgage delinquency rate in Baton Rouge—that is, the percentage of home loans three months past due or more—was at 5.69% in March: almost even with the 5.71% rate in March 2011 but nonetheless lower than Louisiana’s rate of 6.26% and the U.S. rate, 7.18%.