NY-area foreclosure rates continue to increase

Foreclosure rates in New York-White Plains-Wayne, N.J. continued to increase
in the month of June over the same period last year, according to data
released today by CoreLogic, up 1.3 percent from June 2010 when the
average was 3.93 percent.

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Foreclosure activity in the area remained higher than the national
foreclosure rate which was 3.46 percent in June, representing a
1.76 percentage point difference over June 2010. The foreclosure rate has also
worsened from March, when the rate jumped to 5.08 percent, asThe Real Deal reported. 

The mortgage delinquency rate also increased. According to
CoreLogic data for June 2011, 8.36 percent of mortgage loans were 90
days or more delinquent compared to 8.22 percent for the same period
last year, representing an increase of 0.14 percentage points. That
rate is down slightly from March, when 8.48 percent mortgage loans
were delinquent. Nationally, mortgage rates continue to sink. –– Miranda Neubauer

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