Central Pa. foreclosure rates up in March
The Lebanon area saw the biggest jump in residential mortgage foreclosures and 90-day delinquencies between March 2011 and March 2012, according to California-based real estate research firm CoreLogic.
Foreclosures increased to 1.8 percent from 1.52 percent in the same year-ago month, while delinquencies rose to 4.27 percent from 3.66 percent.
Both are well below the state and national rates. Pennsylvania’s foreclosure rate was 2.73 percent in March, which was up from 2.54 percent in March 2011. The delinquency rate was 5.82 percent, up from 5.44 percent.
The U.S. rates were 3.41 percent and 7.18 percent, respectively. Foreclosures declined over the year from 3.54 percent, while delinquencies came down from 7.51 percent, the firm said.
Lebanon posted the second-lowest rates in Central Pennsylvania behind the Lancaster market.
Lancaster came in at 1.74 percent on the foreclosure side, which was up from 1.6 in March 2011. Delinquency was 3.79 percent, an increase of 0.33 percentage points.
The Harrisburg-Carlisle market reported a March foreclosure rate of 1.81 percent, which was up from 1.69 percent a year earlier. Delinquency was 4.17 percent, which jumped from 3.85 percent in 2011.
The York-Hanover market had the highest foreclosure and delinquency rates in the midstate at 2.78 percent — up from 2.56 percent — and 6.1 percent. The delinquency rate was 5.57 percent in March 2011, according to CoreLogic.
The March foreclosure rate in York-Hanover was down from February’s 2.89 percent.
February was the high for each of the markets, according to foreclosure data that dates to May 2010.