IA: Des Moines Foreclosures Rising, But Delinquencies Fall

Iowa Gay Real EstateForeclosure rates in the Des Moines metro area increased in January compared to a year earlier, but the percentage of mortgages seriously delinquent fell, said CoreLogic, a California-based real estate analytics company.

The rate of foreclosure among outstanding mortgage loans was 2.83 percent in January, an increase of 0.63 percentage points over January 2010, CoreLogic said today.

The company’s data shows foreclosure rates have climbed steadily in the Des Moines-West Des Moines area for two years. The U.S. recession began in December 2007 and gripped Iowa in late 2008. Des Moines trailed the national foreclosure rate but was higher than the state’s, both of which climbed in January over a year earlier.

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Full Story from the Des Moines Register

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