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Colorado Springs foreclosure rates drop

Thu, Oct 27, 2011

News

Colorado Springs foreclosure rates fell in August and are lower than the state or national average, according to CoreLogic data.

CoreLogic is a real estate analysis firm that regularly releases market reports.

Just 1.49 percent of all outstanding mortgages in Colorado Springs were in some stage of foreclosure in August. That’s a decrease from 1.72 percent foreclosure activity in the Pikes Peak Region in August 2010.

The rate is significantly lower than the national foreclosure rate, which was 3.43 percent in August 2011.

The mortgage delinquency rate, which is the number of people who are 90 days or later making mortgage payments in relation to the total number of mortgages dropped from 4.49 percent in August 2010 to 4.04 percent this August.

Colorado Springs has slightly lower foreclosure and mortgage delinquency rates than the state average and significantly lower rates than the country.

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