The foreclosure rate among outstanding mortgage loans in Baton Rouge decreased to 0.86% in October, though foreclosure activity in the area was still slightly higher than the national rate of 0.85%, according to a new report by global property information firm CoreLogic.
The foreclosure rate in Baton Rouge was 0.18 percentage points lower last October, as compared to October 2015. Louisiana’s foreclosure rate in October was 0.98%, down from 1.2% during the month the year previous.
CoreLogic defines the foreclosure rate as the percentage of loans in some stage of the foreclosure process.
CoreLogic also reports the mortgage delinquency rate in Baton Rouge—that is, the percentage of home loans that are more than 90 days delinquent—increased in October to 4.23%. In the same month the year previous, 3.77% of mortgage loans were delinquent.
Baton Rouge’s mortgage delinquency rate was higher than both the national rate (2.61%) and state rate (4.04%) in October.
