Good news and bad news for the local housing market.

The good news?

A study released Monday by property-research firm CoreLogic says foreclosure rates for the Allentown, Bethlehem and Easton area are falling from last year.

And now for the bad.

The local rates are still above the national and state averages.

The local foreclosure rate is 3.88-percent almost a one-point drop from last year.

The national average is 2.25-percent and Pennsylvania's is slightly higher.