Manatee, Sarasota mortgage rates drop from same time last year

MANATEE -- Foreclosure rates in the Bradenton-Sarasota area fell in July compared to the same time last year, according to data released Tuesday from CoreLogic.

The report shows the rate of area foreclosures among outstanding mortgage loans was 10.71 percent in July 2012, a decrease of 1.18 percentage points compared to July of 2011 when the rate was 11.89 percent. Foreclosure activity in Bradenton-Sarasota was higher than the national rate of 3.25 percent.

Also in July, the local mortgage delinquency rate decreased. The 15.13 percent of mortgage loans were 90 days or more delinquent compared to 16.36 percent for the same period last year, representing a decrease of 1.23 percentage points.