In their latest Loan Performance Insights Report, CoreLogic is reporting that August’s foreclosure inventory rate was 0.6%, the lowest monthly rate since August 2016 when it was 5.2%. They also reported that in August, 4.6% of mortgages were in some stage of delinquency representing a 0.6 percentage point year-over-year decline in the overall delinquency rate compared with August 2016 when it was 5.2%.
“Serious delinquency and foreclosure rates are at their lowest levels in more than a decade, signaling the final stages of recovery in the U.S. housing market,” said Frank Martell, president and CEO of CoreLogic. “As the construction and mortgage industries move forward, there needs to be not only a ramp up in homebuilding, but also a focus on maintaining prudent underwriting practices to avoid repeating past mistakes.”
Click here to read the full report.
