Florida Home Foreclosure Rate Falls to 6.2%, Triple U.S. AverageToluse Olorunnipa
The residential foreclosure rate in Florida, which has the highest percentage of delinquent mortgages in the U.S., declined to 6.2 percent in January, according to a report by CoreLogic Inc. That’s down from 10.1 percent from a year earlier.
Florida’s rate was triple the national average of 2 percent, according to the report yesterday by Irvine, California-based CoreLogic Inc., a mortgage data and software company. Florida led the nation with 116,000 foreclosures completed in the 12 months through January, the company said in a separate report in February.
The foreclosure data indicate a rebound in the state housing market, which has declined for five years through the fiscal year ended June 30, as measured by property-tax revenue.
Bonds from Florida issuers have gained 3.4 percent this year through March 28, trailing the 3.6 percent gain in the broad $3.7 trillion municipal market, according to S&P Dow Jones Indices.