1004 mc

April 6th, 2009 7:26 AM

While the Tyler area has not been spared from foreclosures stemming from the nation's economic downturn, recent figures show that the rate does not seem to be on the rise.

Tyler area foreclosure rates for February matched the rate for the same month in 2008 and were well below state and national rates, according to the Tennessee-based First American CoreLogic, which collects national, state and local data on home prices, foreclosures and delinquencies.

The area's foreclosure rate was 0.6 percent, the same as February 2008 and lower than the Texas rate of 0.7 percent and national rate of 1.7 percent.

The figures marked a slight decrease for the state, which saw a 0.8 percent rate in February 2008. Nationally, February marked an increase from the same month in 2008 with a rate of 1.3 percent

However, the Tyler area's 90-day delinquency rate increased in February over the same month in 2008, reaching 2.7 percent compared with 2.5 percent for February 2008.

The rate still fell well below the state's 3.6 percent and nation's 5 percent for February 2009.