MINNEAPOLIS — A new report says Minnesota has one of the lowest foreclosure rates in the country.

CoreLogic’s National Foreclosure Report says Minnesota’s rate was just 0.4 percent in February. Minnesota is tied with several other states for the second-lowest rate — including Arizona, Colorado and Utah. Alaska had the lowest rate at 0.3 percent.

Nationally, an estimated 434,000 homes were moving through the foreclosure process. That’s 1.1 percent of all homes. The Star Tribune reports CoreLogic chief economist Frank Nothaft says the improved rate can be attributed to income growth and other economic improvements.