B.R. foreclosures increase again

The foreclosure rate in Baton Rouge rose again in May but remained below the state and national averages. The percentage of outstanding mortgages that were foreclosed upon in the Capital Region during May was 2.46%, says CoreLogic. That’s 0.21 points up from the 2.25% foreclosure rate in May 2010. The percentage of outstanding mortgages that were foreclosed upon in Louisiana during May was 2.63%. That rate is 0.19 points up from the 2.44% foreclosure rate in May 2010. The U.S. foreclosure rate was up by 0.35 points, from 3.1% in May 2010 to 3.45%. The delinquency rate in Baton Rouge over the past year continued to drop. The number of people 90 days or more behind on their mortgages locally was 5.57% in May, a 0.34 percentage-point drop from May 2010, says CoreLogic. The state delinquency average went down 0.52 points to 6.11%. Nationally, the delinquency rate was 7.29%, down from the 8.13% of borrowers whose payments were three months or more late in May 2010. For the rest of Real Estate Weekly, click here.