Region’s foreclosure rates continue descent

Foreclosure rates in Northern Colorado have been steadily declining for more than a year now, and they show little sign of reversing that trajectory.

The foreclosure rate in the Fort Collins and Loveland area was below 1 percent for the seventh consecutive month, at 0.85 percent, down from May 2011, when the rate was 1.08 percent. Ninety-day delinquency rates also decreased year-over-year in May, from 2.78 percent in 2011 to 2.21 percent.

Foreclosure activity was also down in Greeley, but the rate there was still higher than in Fort Collins and Loveland. Greeley’s foreclosure rate was 1.61 percent in May, down from 1.91 percent in the same period the year before. Greeley’s foreclosure rate has remained below 2 percent since March 2011.

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Greeley’s delinquency rate was also down, from 5.11 percent in May 2011 to 4.25 percent.

Fort Collins-Loveland showed lower foreclosure rates than Colorado and the nation, which had rates of 1.43 percent and 3.41 percent respectively, both down from the year before. Delinquency rates also decreased, to 3.77 percent in Colorado and to 6.94 percent in the U.S.