The Real Deal Miami

Miami foreclosure rates down in December

February 26, 2013 02:00PM

The rate of foreclosures among outstanding mortgages in the Miami-Miami Beach-Kendall metropolitan area fell 3.19 percentage points in December to 14.39 percent from 17.58 percent in 2011, according to CoreLogic data.

The mortgage delinquency rate also decreased for the same area of South Florida, with 20.80 percent of mortgage loans 90 days or more delinquent, compared to 24.93 percent for the same period last year.

But while foreclosure rates are down in Miami, foreclosure activity remained higher than the national foreclosure rate, which was 2.96 percent for December 2012. —Christopher Cameron