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Foreclosures Near 20-Year Low
"Soaring home values and a strong U.S. economy have hammered down home loan delinquency rates and foreclosures to their lowest levels in almost two decades," reports Steve Brown. The article shares the findings of the most recent "Loan Performance Insights" report by CoreLogic, which reports data through September 2019.
"Less than 4% of U.S. homeowners with mortgages were behind in their payments at the end of the third quarter," according to Brown. "And less than one half of 1% of mortgages across the country were in foreclosure as of September."
"By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2% and peaked in November 2008 at 2%," according to the report.