Orlando foreclosures higher than national average

New data from CoreLogic shows the rate of Orlando-Kissimmee-Sanford area foreclosures was 1.59 percent in June — down 1 percentage point compared to the same time last year. However, Central Florida’s foreclosure rate was still higher than the national rate of 0.95 percent in June.

The mortgage delinquency rate in Central Florida also decreased in June. The rate of mortgage loans 90 days or more delinquent was 4.49 percent, down from 6.01 percent last year.
Statewide, Florida’s foreclosure rate was higher than metro Orlando’s, at 1.77 percent in June, down from 2.83 percent for the year-ago period. The mortgage delinquency rate in the Sunshine State was 4.79 percent in June, down from 6.33 percent in June 2015.
Decreasing foreclosure rates signals a positive trend in Orlando's real estate market because they indicate a stronger homeowner market and help boost property values.

Read the full article at bizjournals.com