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Foreclosure rates increase for Utica-Rome area

Foreclosure rates in Utica-Rome have increased for the month of May over the same period last year, according to First American CoreLogic, the leading collector of national, state and local data on home prices, foreclosure and delinquency activity, real estate sales volume and mortgage loan activity.

According to recent data from First American CoreLogic on foreclosures for the Utica-Rome area, the rate of foreclosures among outstanding mortgage loans is 1.10 percent for the month of May, an increase of 0.10 percentage points compared to May of 2008 when the rate was 1.00 percent.* Foreclosure activity in Utica-Rome is lower than the national foreclosure rate which was 2.5 for May 2009, representing a 1.40 percentage point difference.

Also in Utica-Rome, the mortgage delinquency rate has increased. According to First American CoreLogic preview data for May 2009, 3.60 percent of mortgage loans were 90 days or more delinquent compared to 2.50 percent for the same period last year, representing an increase of 1.20 percentage points.*

Location 90+ Day Delinquency Rate May 2009 90+ Day Delinquency Rate May 2008 Change in 90+ Day Delinquency Rate Foreclosure Rate May 2009 Foreclosure Rate May 2008 Change in Foreclosure Rate REO Rate May 2009 REO Rate May 2008 Percentage Point Change in REO Rate
New York 5.30% 3.10% 2.30% 2.00% 1.60% 0.40% 0.20% 0.20% 0.00%
Utica-Rome, NY 3.60% 2.50% 1.20% 1.10% 1.00% 0.10% 0.20% 0.30% -0.10%
US 6.5% 4.0% 2.5% 2.5% 1.5% 1.0% 0.7% 0.6% 0.1%

Source: First American CoreLogic.

For detailed information on foreclosures by zip code and property, visit www.realquest.com.

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