Foreclosure rates continue to decline in southeastern Wisconsin, reaching a new low of 1.93% in February for the Milwaukee region. According to CoreLogic, this is down .7 points from the same month year-over-year. This local foreclosure rate is higher than Wisconsin’s average rate of 1.65% but it is still lower than the overall national rate of 2.85%.
The total U.S. loan delinquency rate — loans 30 or more days past due but not in foreclosure — dropped nationally to 6.8%, according to Lender Processing Services (LPS). This rate has fallen 6.51% in the past year. About 5.1 million U.S. homes are either in foreclosure or are delinquent on payments.