Twin Cities mortgage foreclosure rate drops nearly 50 percent in January

Twin Cities homeowners appear to be in far better financial shape than they were last year.

CoreLogic, a national real estate research firm, said that the foreclosure rate in the metro was 0.63 percent during January, a decrease of 0.58 percentage points compared to January of 2013 when the rate was 1.21 percent. Nationwide, the foreclosure rate dipped to 1.97 percent.