Black Knight Financial Services reported this week that foreclosure starts in November were 66k, their lowest level since April, 2006.
Some takeaways:
- 66,600 foreclosure starts in November mark the lowest one-month total since April 2006
- Foreclosure inventory down 185k from one year ago; fewer than 700,000 active foreclosures remaining
- Seasonal increase seen in 90-day defaults; 90-day delinquent inventory up 7k from one month ago
- Prepayment rate (historically a good indicator of refinance activity) down sharply in November; 16% below October’s rate
Click here to read the full report on Black Knight Financial
