Area foreclosures, delinquencies drop again

The latest CoreLogic data on area foreclosures and mortgage loan delinquencies shows a big month-to-month drop in both. The foreclosure rate in October hit its lowest point since September of 2009, while the percentage of loans behind 90 days or more hadn't been that low since July of that year. CoreLogic's numbers reinforce several positive data points from other parts of the local housing market and suggest 2013 should see a pick-up in construction as well as a decent improvement in the finances of local banks that rely more heavily on mortgage lending.