Bloomberg News

Florida Home Foreclosure Rate Falls to 6.2%, Triple U.S. Average

March 31, 2014

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 released today by CoreLogic Inc. (CLGX:US) 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 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 last month.

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, trailing the 3.6 percent gain in the broad $3.7 trillion municipal market, according to S&P Dow Jones Indices.

To contact the reporter on this story: Toluse Olorunnipa in Tallahassee, Florida at tolorunnipa@bloomberg.net

To contact the editors responsible for this story: Stephen Merelman at smerelman@bloomberg.net Justin Blum, Mark Tannenbaum


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Companies Mentioned

  • CLGX
    (CoreLogic Inc/United States)
    • $31.71 USD
    • -0.02
    • -0.06%
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