According to the Mortgage Bankers Association’s (MBA) National Delinquency Survey, the percentage of loans in the foreclosure process at the end of the third quarter was 1.88 percent, down 21 basis points from the second quarter and 51 basis points lower than one year ago. This was the lowest foreclosure inventory rate seen since the third quarter of 2007. In addition, the percentage of loans on which foreclosure actions were started during the third quarter was 0.38%, a decrease of two basis points from the previous quarter, and down six basis points from one year ago. The foreclosure starts rate is at the lowest level since the second quarter of 2005.
Click here to read the full report form the Mortgage Bankers Association.
