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Foreclosure Inventory Cruising on at 11-Year Low

The foreclosure inventory, that is the percentage of loans in the process of foreclosure, appears to have stabilized at 0.6 percent of all outstanding first mortgage loans.  CoreLogic said on Tuesday that that the inventory has been unchanged at that level, the lowest since June 2007, since last August.  The number is down 1 basis point compared to April 2017. The company's monthly Loan Performance Insights Report shows that, nationally, 4.2 percent of mortgages were past due by 30 days or more in April, including loans in foreclosure.  This is a 0.6 percentage point decline in the overall delinquency rate compared with the previous April when it was 4.8 percent.

 

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