The foreclosure rate in Baton Rouge increased by a scant 0.04% in July from the year previous, according to CoreLogic. Approximately 2.37% of all home mortgages were in some stage of foreclosure in July, up from 2.33% in July 2010. The local rate remained well below the state and national averages. The 2.54% rate in Louisiana during July represents a 0.03% increase from a year ago, while the U.S. rate of 3.44% reflects a 0.24% increase. The mortgage delinquency rate—that is, the percentage of home loans that are more than 90 days delinquent—fell in July to 5.48% in Baton Rouge, a decrease of 0.3% from the year previous. That’s also lower than the state and national averages, which stood at 5.48% and 7.2% in July, respectively. Baton Rouge’s foreclosure rate was at 2.79% in January, compared to 2.08% in January 2010 and 1.28% in January 2009. Read this week’s complete Real Estate Weekly newsletter here.
B.R. foreclosures rise slightly in July
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