IE Business Daily Business news for the Inland Empire.
Foreclosures in the Inland Empire dropped slightly in August.
The region’s foreclosure rate was 0.7 percent, down 0.2 percent compared with August 2014, according to data released Tuesday by CoreLogic in Irvine.
Overall, 5,764 foreclosures were completed in the Inland region during that 12-month period, down from 6,697 completed foreclosures between August 2013 and August of last year, CoreLogic reported.
The region’s serious delinquency rate – defined as any mortgage 90 days or more past due – was 2.6 percent in August, down 0.7 percent year-over-over.
Nationwide, the foreclosure inventory dropped 25.2 percent and completed foreclosures declined by 20.1 percent compared with August of last year. Foreclosures have fallen nearly 70 percent since their peak in September 2010, when more than 117,000 properties throughout the country underwent foreclosure.
Serious delinquencies nationwide are also falling: 3.5 percent all U.S. mortgages fell into that category in August, a drop of 20.7 percent year-over-year. That was the lowest national rate since January 2008, according to CoreLogic.
