The rate of foreclosures in metro Baton Rouge rose by nearly 1.5 percentage points in May, when compared with the year before. According to CoreLogic, which tracks real estate data, the rate of outstanding mortgage loans that were foreclosed upon in May was 2.31%, compared with 1.48% in May 2009. Despite the increase, the recent rate is lower than the national average of 3.15% and the Louisiana average of 2.54%. The number of homeowners who were behind on their mortgage payments was also up locally by a similar amount. First American says 4.39% of Capital Region mortgages in May 2009 were 90 days or more delinquent, compared with 5.94% this year. That’s also better than the national average, where 8.2% of mortgages are three months or more past due. The Louisiana delinquency average is 6.74%. In May 2009, 6.29% of U.S. mortgages were delinquent and 4.98% of Louisiana mortgages were behind on payments.
B.R. foreclosures up, still below La., U.S. average
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