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Foreclosure rates still dropping in South Mississippi

CoreLogic data reveals that foreclosure rates were down again in South Mississippi in January.

The rate of Gulfport-Biloxi-Pascagoula area foreclosures among outstanding mortgage loans was 1 percent for January 2016, a decrease of 0.32 percent compared with January 2015, when the rate was 1.32 percent.

Foreclosure activity in South Mississippi remains lower than the national foreclosure rate of 1.15 percent for January.

The local mortgage delinquency rate also decreased, according to CoreLogic. In January 4.6 percent of mortgage loans were 90 days or more delinquent compared with 5.8 percent for the same period last year, representing a decrease of 1.2 percent.

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