Foreclosure Activity Takes a Dive

The level of mortgages in active foreclosure reached a nine-year low in September, according to new data from Black Rock Financial Services.

Last month, the total U.S. foreclosure pre-sale inventory rate was one percent, down 3.38 percent from August and down an astonishing 31.23 percent from September 2015. The total U.S. loan delinquency rate for September was 4.27 percent, up by 0.74 percent from the previous month but down 12.24 percent year-over-year. And there were 61,7000 foreclosure starts during the month, down 10.32 percent from August and down 22.78 percent from one year ago.

However, the pre-payment rate in September was at its third highest level in three years: 1.54 percent, down 7.59 percent from August but up by a considerable 43.22 percent on a year-over-year basis.

The top five states ranked by non-current mortgages were Mississippi (11.16 percent), Louisiana (10.32 percent), New Jersey (8.13 percent), Alabama (7.85 percent) and West Virginia (7.72 percent). North Dakota had the lowest non-current percentage at 2.23 percent.