Fairfield foreclosure activity on the decline

By Phil Hall

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The foreclosure activity on outstanding residential mortgages in the Bridgeport-Stamford-Norwalk area was 1.42 percent for August 2016, according to new data from the property information provider CoreLogic.

Although August’s level was down 0.45 percent from August 2015, when the rate was 1.87 percent, the area’s foreclosure activity was above the 0.90 percent national foreclosure rate for August.

CoreLogic also reported that the mortgage delinquency rate for the Bridgeport-Stamford-Norwalk area on loans that were 90 days or more delinquent dropped in August to 3.30 percent, down from the 4.43 percent level one year earlier. The area’s delinquency was below the state level of 3.55 percent.

On a national level, CoreLogic reported that the serious delinquency rate was 2.8 percent in August, down from 3.5 percent in August 2015. The serious delinquency rate fell year-over-year in all states during August except North Dakota and Wyoming, where both states saw a scant 0.1 percent increase.

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