Phoenix foreclosure rate continues to fall

Foreclosure rates in the Phoenix area continue to move lower, according to new data from CoreLogic .CoreLogic Latest from The Business Journals CoreLogic: Phoenix home values down 5% from a year agoCorelogic: Jacksonville home prices down in NovemberMemphis November home values down 5 percent from 2010 Follow this company ., a national real estate research firm. Of existing mortgages, 3.36 percent were in foreclosure in October 2011 as compared with 4.4 percent a year earlier. Phoenix remains below the national foreclosure rate of 3.51 percent. On a monthly basis, the foreclosure rate also dropped from 3.41 percent in September to 3.36 percent in October, the most recent month for which data is available. The Phoenix-area mortgage delinquency rate has also dropped from 11.69 percent last year to 8.02 percent this October.

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