Home foreclosures continue dropping in 4-county region
Foreclosure rates in the four-county Sacramento region continued falling in October compared with the same month a year ago, CoreLogic reported Monday.
In Sacramento, El Dorado, Placer and Yolo counties, the rate of foreclosures among outstanding mortgages dropped to 0.72 percent in October compared with 1.79 percent in October 2012, the Irvine-based real estate information service said.
The national foreclosure rate was 2.15 percent in October, the firm reported.
The mortgage delinquency rate also continued dropping. In October, about 3 percent of mortgage loans were 90 days or more delinquent compared with 5.5 percent during the same month last year.
Rising home values and a strengthening job market are the main drivers behind the fall in foreclosures and delinquencies.
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