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Foreclosures down in South Mississippi for July

Foreclosure rates in Gulfport-Biloxi-Pascagoula decreased in July over the same period last year, according to newly released data from CoreLogic.

The rate of area foreclosures among outstanding mortgage loans was 1.22 percent for July, a decrease of 0.21 percent compared with July 2014 when the rate was 1.43 percent. Foreclosure activity in Gulfport-Biloxi-Pascagoula was lower than the national foreclosure rate, which was 1.26 percent for July 2015.

The mortgage delinquency rate also decreased. According to CoreLogic, 4.97 percent of mortgage loans were 90 days or more delinquent compared with 5.87 percent for the same period last year, representing a decrease of 0.90 percent.

South Mississippi's delinquency rate for July was below the state rate of 5.07 percent but above the national rate of 3.51 percent.

South Mississippi foreclosure rates:

Year 90+ Day Delinquency Foreclosure Rate

July 2015 4.97% 1.22%

June 2015 4.93% 1.26%

May 2015 4.99% 1.22%

April 2015 5.15% 1.17%

March 2015 5.25% 1.23%

February 2015 5.60% 1.29%

January 2015 5.73% 1.31%

December 2014 5.76% 1.31%

November 2014 5.69% 1.28%

October 2014 5.64% 1.25%

September 2014 5.82% 1.36%

August 2014 5.78% 1.37%

July 2014 5.87% 1.43%

June 2014 5.88% 1.47%

May 2014 5.84% 1.45%

April 2014 5.95% 1.44%

March 2014 6.14% 1.47%

February 2014 6.35% 1.66%

January 2014 6.62% 1.85%

-- Source: CoreLogic

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