More Minnesota homeowners struggled to make mortgage payments in February, according to new data from First American CoreLogic. In the Twin Cities metro area, 2% of outstanding mortgage loans were in foreclosure in February, an increase from a 1.4% foreclosure rate in February 2009. The number of people 90 or more days behind on their mortgage payment also increased. This February, 6.3% of mortgage loans were delinquent compared with 4.6% for the same period last year. Scott Anderson, senior economist for Wells Fargo, isn’t surprised. “The main variable that drives delinquencies is the unemployment rate, and it’s still near 30-year highs,” he said.

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U.S. home prices rise by 4% in December

Last December, home prices climbed by 4% from the previous year, according to CoreLogic. By the end of this year, the company projects they’ll increase by 5.2%.

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3d rendering of a row of luxury townhouses along a street

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