Foreclosure Levels Continue to Fall

Sep 12, 2017

A total of 177,146 properties carried foreclosure filings in the third quarter, down six percent from the previous quarter and down eight percent from a year ago to the lowest level since the fourth quarter of 2005

The national foreclosure inventory rate reached its lowest point in nearly a decade, according to new data from CoreLogic.

During June, 4.5 percent of mortgages were in some stage of delinquency, down 0.8 percent from one year earlier. The foreclosure inventory rate in June was 0.7 percent, down from 0.9 percent in June 2016 to reach its lowest level since the 0.7 percent rate in July 2007.

The rate for early-stage delinquencies—defined as 30-59 days past due—was two percent in June, down slightly from 2.1 percent in June 2016. The share of mortgages that were 60-89 days past due in June was 0.6 percent, also down slightly from 0.7 percent in June 2016.

“After peaking at 3.6 percent in December 2010, June’s 0.7 percent foreclosure rate was the lowest in 10 years,” said Frank Martell, president and CEO of CoreLogic. “Across the 100 most populous metro areas, the foreclosure rate varied from 0.1 percent in Denver-Aurora-Lakewood to 2.2 percent in New York-Newark-Jersey City.”

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Phil Hall

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Sep 12, 2017

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