Foreclosure rates in the Miami area fell in June from a year earlier, following a steady downward trend, the Miami Herald reports. The publication ran through the latest figures:
The foreclosure rate — which is the percentage of mortgages that are in some stage of the foreclosure process — fell to 11.38% of outstanding mortgages in the Miami area for June 2013, down 5.31 percentage points from 16.69% a year earlier, the Irvine, Calif.-based data firm said.
Foreclosure activity in the Miami area remains far above the national foreclosure rate, which stood at 2.49% for June 2013.
