Foreclosure rates in the Milwaukee area increased to 2.15 percent in September, up from 1.58 percent in September of 2008, according to a new report from Santa Ana, Calif.-based First American CoreLogic Inc.
Foreclosure rates in Wisconsin increased to 1.99 percent in September, compared to 1.4 percent in September of 2008, according the report.
The national foreclosure rate is even higher, 2.93 percent in September compared to 1.67 percent in September of 2008.
Delinquency rates are also up locally and nationally. The 90-plus day delinquency rate in the Milwaukee area was 5.18 percent in September, up from 3.95 percent in September of 2008, the report said. Wisconsin’s 90-plus day delinquency rate was 4.52 percent in September, up from 3.14 percent in September of 2008. The national 90-plus day delinquency rate was 7.27 percent in September, up from 4.38 percent in September of 2008.
