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Alabama loan performance continues to improve

Photo credit: Special to ACRE

Alabama loan performance continues to improve

Industries: Finance, Residential Real Estate

Markets: Birmingham Metro, Huntsville-Madison County, Mobile Area, Montgomery Area, Statewide, Tuscaloosa Area

Mortgage loan performance in Alabama continues to improve. 

According to the latest CoreLogic Loan Performance Insights, loans 30-plus days delinquent dropped 0.7 percent in March to 6 percent compared to last year. 

Loans 90-plus days delinquent dipped 0.5 percent to 2.5 percent. 

The foreclosure rate for Alabama in March was 0.5 percent, a 0.1 percent drop over March 2016. 

All but three states saw an overall decline in delinquency rates during March. 

Here's how some of the state's metro areas stacked up against one another with mortgages delinquent over 90 days.

Huntsville

March 2017: 2.1 percent

March 2016: 1.6 percent

Difference: -0.5 percent

Birmingham

March 2017: 2.7 percent

March 2016: 3.1 percent

Difference: -0.4 percent

Tuscaloosa

March 2017: 3 percent

March 2016: 3.4 percent

Difference: -0.4 percent

Montgomery

March 2017: 3.1 percent

March 2016: 3.7 percent

Difference: -0.6 percent

Mobile

March 2017: 3.8 percent

March 2016: 4.6 percent

Difference: 0.8 percent

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