New CoreLogic data reveals that the rate of Chattanooga area foreclosures among outstanding mortgage loans was 0.49 percent for November 2015, a decrease of 0.11 percentage points compared with November 2014 when the rate was 0.60 percent. Foreclosure activity in Chattanooga was lower than the national foreclosure rate, which was 1.17 percent for November 2015.
Also in Chattanooga, the mortgage delinquency rate decreased. According to CoreLogic data for November 2015, 3.44 percent of mortgage loans were 90 days or more delinquent compared with 4.29 percent for the same period last year, representing a decrease of 0.85 percentage points.
Location |
90+ Day Delinquency Rate November 2015 |
90+ Day Delinquency Rate November 2014 |
Percentage Point Change in 90+ Day Delinquency Rate |
Foreclosure Rate November 2015 |
Foreclosure Rate November 2014 |
Percentage Point Change in Foreclosure Rate |
Tennessee |
3.15% |
3.95% |
-0.80% |
0.50% |
0.66% |
-0.16% |
Chattanooga, TN |
3.44% |
4.29% |
-0.85% |
0.49% |
0.60% |
-0.11% |
US |
3.25% |
4.14% |
-0.89% |
1.17% |
1.49% |
-0.32% |
Source: CoreLogic.
Chattanooga, TN |
90+ Day Delinquency Rate |
Foreclosure Rate |
November 2015 |
3.44% |
0.49% |
October 2015 |
3.55% |
0.52% |
September 2015 |
3.60% |
0.53% |
August 2015 |
3.67% |
0.51% |
July 2015 |
3.67% |
0.50% |
June 2015 |
3.68% |
0.52% |
May 2015 |
3.77% |
0.54% |
April 2015 |
3.82% |
0.54% |
March 2015 |
3.94% |
0.62% |
February 2015 |
4.05% |
0.64% |
January 2015 |
4.20% |
0.64% |
Source: CoreLogic.
*2009-2014 data available upon request.
Data Notes and Definitions
90+ Day Delinquency Rate: This measures the percentage of loans that are more than 90 days delinquent, including those in foreclosure and REO (real estate owned).
Foreclosure Rate: This measures the percentage of loans in some stage of the foreclosure process.
A foreclosure is defined by the legal process by which an owner's right to a property is terminated, usually due to default. This does not represent the number of new foreclosure filings as provided by other data companies, but rather the current stock, or inventory, of loans in the foreclosure process which offers a comprehensive view of foreclosure trends. CoreLogic has approximately 85 percent coverage of foreclosure data.