For the last five to six years, the number of foreclosures has been steadily declining since hitting a peak. December 2015’s total of 32,000 completed foreclosures represented a decline of nearly 73 percent from their monthly peak of 118,000 reached in September 2010, according to the latest data from CoreLogic. The elevated foreclosure numbers in…
Read more
Foreclosure Inventories Continue to Fall – Down 35% Year Over Year
CoreLogic published its monthly National Foreclosure Report with data from June 2014, which indicates that foreclosure inventory is down 35 percent from June last year. Foreclosures fell from 54,000 to 49,000 on a year-over-year basis. The report further indicated that foreclosure inventory in the United States shrank for 17 consecutive months as of June 2014 and fell…
Read more
Fixed Rates Skyrocket in Response to Fed Remarks – Largest Weekly Increase in 27 Years
Mortgage rates shot up in the last week following remarks from the Federal Reserve that it may be tapering its bond purchases later this year. According to Freddie Mac’s Primary Mortgage Market Survey, the average 30-year fixed-rate mortgage (FRM) rose to 4.46% (0.8 point) for the week ending June 27, an increase from only 3.93% last week…
Read more