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Foreclosure rates continue to drop

The number of people losing their homes to foreclosure in San Diego County has hit substantial lows, real estate tracker Corelogic

The foreclosure rate was 0.34 percent in February, a decrease of 0.10 percent from the year before. Last month, the rate was 0.33 percent, the lowestsince before the recession.

In October 2009, the foreclosure rate hit 2.99 percent, CoreLogic data shows.

San Diego County’s foreclosure rate is 0.26 percent lower than the rest of California and 1.83 percent lower than the rest of the nation, CoreLogic said.

There are also fewer people delinquent on their mortgage in the county. In February, 1.33 percent of mortgage loans were 90 days or more delinquent, a decrease of 0.34 percent from the year before.

Source: San Diego Union-Tribune

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