The Real Deal Miami

Miami metro foreclosure rates drop

January 29, 2013 09:45AM

The rate of foreclosures among outstanding mortgages in the Miami-Miami Beach-Kendall metropolitan area fell 3.13 percentage points in November to 14.59 percent, compared to the same period in 2011, when the rate was 17.72 percent, according to data from CoreLogic. But foreclosure activity in the area remained significantly higher than the national foreclosure rate, which stood at just 2.97 percent in November. The mortgage delinquency rate decreased as well, with 21.24 perent of mortgage loans being 90 or more days delinquent, compared to 25.11 percent in the same period in 2011. —Alexander Britell