Local foreclosure rates drop

Foreclosure rates in Altoona decreased for the month of June over the same period last year, according to newly released data from CoreLogic.

The CoreLogic data reveals that the rate of Altoona area foreclosures among outstanding mortgage loans was 1.32 percent for the month of June, a decrease of 0.46 percentage points compared with a year ago when the rate was 1.78 percent. Foreclosure activity in Altoona was lower than the national foreclosure rate, which was 1.70 percent for June.

Also in Altoona, the mortgage delinquency rate decreased. According to CoreLogic data for June, 3.58 percent of mortgage loans were 90 days or more delinquent compared to 3.94 percent for the same period last year, representing a decrease of 0.36 percentage points.