Tampa Bay's foreclosure and mortgage delinquency rates continue to fall substantially, although they still are above the national averages.
According to CoreLogic, 1.6% of all Tampa Bay homes with mortgages were in some stage of foreclosure in January, a full percentage point lower than at the same time last year. Nationally, the foreclosure rate was 0.8%, down from 1.1% a year earlier.
The percentage of Tampa Bay borrowers at least 30 days late on their mortgages dropped to 6.3% in January, down from 8.7% the previous year.
The percentage who were "seriously delinquent" — at least 90 days late — declined two points to 3.7%. The national 30-day and 90-day delinquency rates in January were 5.3% and 2.5%, respectively.
Nationally, delinquencies are at their lowest point in 10 years, a result of steady income and job growth, CoreLogic said.
