February’s foreclosure inventory fell to lowest rate since 1999

Episode 7: Wise Cash - Investing in Foreclosures Redfin Direct: Buy a Redfin-Listed Home Without a Real Estate. – February’s foreclosure inventory fell to lowest rate since 1999. Ginnie Mae MBS issuance returns to year-ago levels. Leave a Reply Cancel reply. Your email address will not be published. Required fields are marked * Comment. Name * Email * Website.

This was the lowest foreclosure inventory rate seen since the third quarter of 2007. The serious delinquency rate, the percentage of loans that are 90 days or more past due or in the process of foreclosure, was 3.29 percent, a decrease of 15 basis points from previous quarter, and a decrease of 95 basis points from last year.

A Minnesota real estate agent: "I’ve been in business since 1999, and this has by far been the slowest market. There is a large inventory on the market. U.S. office vacancy rates fell in the third.

The current foreclosure rate of 1.5 percent is the lowest inventory level since March 2008. "The foreclosure rate fell in every state, with only the District of Columbia seeing a small increase," said Molly Boesel, senior economist. "However, some states still have foreclosure rates of more than twice the national rate.

The foreclosure inventory rate was 0.6%, which was also down 0.2 percentage points from 2016. In addition, CoreLogic says that both August and September experienced the lowest foreclosure inventory rate since June 2007 when it was also 0.6%.

Notably, the percentage of loans in the foreclosure process at the end of the first quarter was 1.16%, down 3 basis points from the fourth quarter of 2017 and 23 basis points lower than one year ago. This was the lowest foreclosure inventory rate since the third quarter of 2006.

The inventory of existing homes for sale fell 4.9 percent to 1.74 million, the lowest level since December 1999. At the reported sales pace, that represents a 4.2 month supply of homes for sale.

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