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Foreclose Inventory Falls to 12-Year Low

Mortgage News > Foreclose Inventory Falls to 12-Year Low
Date: 08/14/2018    Foreclose Inventory Falls to 12-Year Low

The number of homes in foreclosure on the market sank to just 0.5% in May, the lowest point since September 2006 and down 2 basis points from one year ago. The delinquency rate for U.S. mortgage loans also fell in May, dropping to 4.2% of all home loans, down 0.3% from the previous year. Early stage delinquencies – those loans late by 30-59 days, decreased to 1.8% in May, down from 1.9% in May 2017. That segment of mortgage delinquencies is often a bellwether of the overall economic direction. 

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