Skip to main content

Foreclosure Rates at Lowest Level Since 2000

Phil Hall
Feb 12, 2019
During November, 4.1 percent of mortgages were in some stage of delinquency, according to data from CoreLogic

During November, 4.1 percent of mortgages were in some stage of delinquency, according to data from CoreLogic. This represents a 1.1 percent decline from the 5.2 percent level from one year earlier.
 
The foreclosure inventory rate in November was 0.4 percent, down 0.2 percent from one year earlier and the lowest level since January 2000. The rate for early-stage delinquencies was two percent, a slight drop from 2.2 percent in November 2017. The share of mortgages that were 60 to 89 days past due was 0.7 percent, down from 0.9 percent in the previous year. And the serious delinquency rate was 1.5 percent, down from two percent one year earlier and down to the lowest level for the month since 2006. November’s rate ties the rates from August, September and October 2018 as the lowest for any month since March 2007, when it was also 1.5 percent.
 
“Solid income growth, a record amount of home equity and an absence of high-risk loan products put the U.S. homeowner on solid ground,” said Frank Nothaft, Chief Economist for CoreLogic. “All of this has helped push delinquency and foreclosure rates to the lowest levels in almost two decades, and will provide a cushion if the housing market should turn down.”
During November, 4.1 percent of mortgages were in some stage of delinquency, according to data from CoreLogic

 
Published
Feb 12, 2019
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Tech
Sep 27, 2022
Nations Lending Opens Another Branch In Arizona

New Scottsdale branch welcomes Arizona native Christine McConnell as lead personal mortgage advisor.

Industry News
Sep 26, 2022