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South Mississippi foreclosure rates below national rate

Foreclosure rates in the Gulfport-Biloxi-Pascagoula area continue to decrease, according to date from CoreLogic.

Area foreclosures among outstanding mortgage loans was 0.96 percent for February, a decrease of 0.34 percent compared with February 2015 when the rate was 1.30 percent. Foreclosure activity in Gulfport-Biloxi-Pascagoula was lower than the national foreclosure rate of 1.13 percent for February.

Mortgage delinquency rates also decreased. CoreLogic reports that 4.35 percent of mortgage loans were 90 days or more delinquent in February compared with 5.67 percent for the same period last year, a decrease of 1.32 percent.