Foreclosures, mortgage delinquencies continue to fall in Charleston area

Foreclosures and mortgage delinquencies continue to decline in the Charleston-North Charleston market, according to property information service CoreLogic.

Foreclosures and mortgage delinquencies continue to fall in the Charleston metro area, but foreclosures remain slightly higher than the national average.

That’s the conclusion of the latest report from CoreLogic property information service for February.

In Charleston-North Charleston, the rate of foreclosures among outstanding mortgage loans was 1.45 percent in February, a decline of 0.68 percentage points from February 2014.

The national foreclosure rate stood at 1.43 percent, CoreLogic reported Wednesday.

The mortgage delinquency rate for people 90 days or more behind on payments also declined in February for the Charleston market.

CoreLogic reported 3.66 percent of mortgage loans locally were 90 days or more delinquent compared to 4.67 percent for the same month a year ago. The Charleston-North Charleston market remains below the national mortgage delinquency rate of 3.92 percent for February.

Both foreclosures and delinquent payments have fallen every month since January 2014, according to CoreLogic.

Reach Warren L. Wise at 937-5524 or twitter.com/warrenlancewise.