The foreclosure rate in Colorado Springs dropped year-over-year in March from 1.71 percent in 2011 to 1.39 percent of all outstanding mortgages this year, according to a CoreLogic report.

CoreLogic, a real estate analytics firm, releases monthly data about foreclosures.

The foreclosure rate in Colorado Springs was significantly lower than the national rate of 3.41 percent in March of this year.

Mortgage delinquency also declined year-over-year in March, according to CoreLogis. In March of 2012, 4.03 percent of mortgage loans were 90 days or more overdue, down from 4.25 percent in March of 2011.

Colorado Springs numbers are on track with state averages, where 90-day delinquencies dropped to 3.99 percent from 4.42 percent in 2011 and where the foreclosure rate in March of 2012 was 1.44 percent, slightly higher than the local rate.

Both the declining delinquency and foreclosure rates in Colorado Springs are following a consistent trend of monthly declines.

- Advertisement -