Foreclosure rates drop in South Mississippi

CoreLogic reports foreclosure rates continue to drop in the Gulfport-Biloxi-Pascagoula area.

Among outstanding mortgage loans, the foreclosure rate was 1.10 percent for December, a decrease of 0.23 percent from December 2014 when the rate was 1.33 percent.

Foreclosure activity in South Mississippi was lower than the 1.20 percent national foreclosure rate for December.

The mortgage delinquency rate also decreased. CoreLogic data for December showed 4.67 percent of mortgage loans were 90 days or more delinquent compared with 5.84 percent for the same period last year, a decrease of 1.17 percent.