Foreclosure rates dropping fast in Milwaukee area

Metro area sees greater decline than state

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The Milwaukee-Waukesha-West Allis metropolitan area saw its mortgage foreclosure rates decline at a faster rate in June than the state overall, according to new data from property analytics firm CoreLogic Inc.

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The June foreclosure rate was 0.76 percent of outstanding mortgage loans in the Milwaukee area, down from 0.96 percent in June 2015.

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That’s compared to Wisconsin overall, which saw a 0.58 percent foreclosure rate in June, down from 0.75 percent in June 2015.

And nationally, the foreclosure rate was 0.95 percent in June, down from 1.3 percent in June 2015.

Mortgages that are 90 or more days delinquent made up 2.73 percent of Milwaukee area mortgage loans in June, down from 3.18 percent in the same month last year.

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For the state overall, the 90+ day delinquency rate was 1.97 percent in June, down from 2.32 percent in June 2015.

Nationally, the 90+ day delinquency rate was 2.96 percent, down from 3.56 percent.

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