Foreclosure Rate Drops To A 20-year Low
A recent CoreLogic report revealed that mortgages in the foreclosure process dipped to 0.4% in December, which tied January 2000's lowest rate.
"Nationally, 4.1% of all mortgages were in some stage of delinquency, the report showed, meaning that their mortgage payments were at least 30 days past due," according to HousingWire.
"This represents a 1.2% decline from the same time last year, when 5.3% of mortgages were delinquent."
Earlier this week, we reported that serious delinquencies were down across all states but still high among certain metros, affected by natural disasters.
“Our latest home equity report found that the average homeowner saw a $9,700 increase in their equity during 2018,” said CoreLogic Chief Economist Frank Nothaft, according to the report.
“With additional ‘skin in the game,’ rising equity reduces the chances of a foreclosure, helping to push the foreclosure rate down to its lowest level since at least 2000.”
To learn more about the current foreclosure and delinquency rates, click on the image above.