Seattle Foreclosure Rates To Be Lowest, Study Says

NEW YORK - The Seattle metropolitan area is likely to have the lowest rate of home mortgage foreclosures in the U.S. over the next five years among 75 areas studied, according to a study released yesterday by Fitch Investors Service Inc.

Fitch said that conclusion was based on forecasts of home prices, employment growth, unemployment rates, personal income and population growth.

"Seattle has little volatility that we can see over the next few years, and we see some moderate growth. . .," said Peter Cardinale, a Fitch analyst.

Seattle's foreclosure rate for large mortgages a year ago was 0.13 percent, compared with the national average of 0.69 percent. Projected Seattle foreclosure rates based on the first calendar quarter are 0.09 percent for 1995 and 1996, 0.1 percent for 1997 and 1998 and 0.11 percent in 1999.