Foreclosure rates improve locally and nationally

Mortgage delinquency also on the decline

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Record year on track for Wisconsin housing market

Last updated on July 2nd, 2019 at 09:11 am

Foreclosure rates and mortgage delinquency rates are improving locally, statewide and nationally as the housing market continues its long comeback from the meltdown during the Great Recession.

Foreclosure rates in the metro Milwaukee area, Wisconsin and the nation decreased in October compared to the same month last year, according to the latest data from Irvine, Calf.-based CoreLogic Inc.

The rate of foreclosures in the metro Milwaukee area among outstanding mortgage loans was 0.88 percent for October 2015, a decrease of 0.07 percentage points compared with October 2014 when the rate was 0.95 percent, according to the CoreLogic data.

Foreclosure activity in the metro Milwaukee areas was lower than the national foreclosure rate, which was 1.20 percent for October 2015, an improvement from 1.53 percent in October of 2014. The state of Wisconsin had a 0.65 percent foreclosure rate in October, down from 0.73 percent in October of 2014.

The mortgage delinquency rate also decreased locally and nationally in October, according to the CoreLogic data. In the metro Milwaukee area, 2.87 percent of mortgage loans were 90 days or more delinquent in October, compared with 3.40 percent for the same period last year, representing a decrease of 0.53 percentage points. In Wisconsin, the mortgage delinquency rate was 2.07 percent in October, an improvement from 2.54 percent a year ago. Nationally, the mortgage delinquency rate in October was 3.35 percent an improvement from 4.13 percent a year ago.

Read more on the BizTracker page, a collection of economic data reports.

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Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.

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