Inland Empire Foreclosures Drop

More good news for the Inland Empire housing market: foreclosures among outstanding mortgage loans in the two-county region was 0.60 percent in May, a year-over-year drop of 0.16 percent, according to data released Thursday.

Foreclosures in the Riverside-Ontario-San Bernardino market during May were below the one percent national rate, Irvine-based CoreLogic reported.

Also, the Inland Empire’s mortgage delinquency rate fell in May: 2.2 percent of mortgage loans in the region were late by 90 days or more during the fifth month of the year, compared with 2.69 percent one year earlier, a decline of 0.49 percentage points.

Statewide, the 90-day delinquency rate in May was 1.45 percent, down from 1.81 percent in May 2015, CoreLogic reported.