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Last Updated: 12/22/10

Updated Foreclosure Maps - Iowa

  • The average foreclosure rate across ZIP codes (with at least 50 loans) was 2.7 percent in 2010 3Q; the average foreclosure rate had been 1.7 percent in 2008 1Q. (See map of foreclosure rates [p. 1] and chart of foreclosure rate distributions [p. 2].)
  • The rate of foreclosures rose in over three-fourths of ZIP codes, compared to 2008. Among ZIP codes (with at least 50 loans) where the foreclosure rate increased, the average increase was 1.7 percentage points. Among the ZIP codes with falling foreclosure rates, the average decrease was 1.4 percentage points. (See foreclosure rate contrast map [p. 3].)
  • A few of the ZIP codes that had both the highest foreclosure rates in 2010 and 2008 were located near Davenport and outside of the largest Iowa cities.
  • The average foreclosure rate for prime loans was 2.4 percent, and for non-prime loans it was 12.5 percent.
  • Mortgage delinquency rates have increased on average. The average delinquency rate across ZIP codes (with at least 50 loans) was 3.5 percent, compared to an average rate of 1.8 percent in 2008. (See map of delinquency rates [p. 4] and chart of delinquency rate distributions [p. 5].)
  • About 87 percent of ZIP codes (with more than 50 mortgages) saw an increase in mortgage delinquency rates between 2008 and 2010. The rate changes ranged from about 9.5 percentage points to less than one percentage point.
  • The REO rate has also remained fairly stable between 2008 and 2010. The REO rate was 0.59 percent in 2008 and 0.67 percent in 2010. Among the 45 percent of ZIP codes that saw a rise in the REO rate over the period, the average increase was by less than one percentage point. (See REO rate contrast map [p. 6].)
  • The vacancy rate has not changed substantially in Iowa between 2008 and 2010. It rose in 38 percent of Iowa ZIP codes, but it was unchanged or fell in the remainder of them. Among the ZIP codes where the vacancy rate increased, the average increase was about a half of one percentage point. (See vacancy rate contrast map [p. 7].)
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