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Foreclosure Inventory Near 10yr Low; New Home Sales Rise, Prices “Toppy”; Rates Drift Lower; Holiday Effect on Markets

Foreclosure Inventory Near 10yr Low; New Home Sales Rise, Prices “Toppy”; Rates Drift Lower; Holiday Effect on Markets

There was a slight uptick in a couple of housing distress measures in November, but the general trend continues down. Still, as Black Knight Financial Services notes in its monthly "first look" at mortgage performance data "Annual improvement in mortgage delinquency rates is beginning to slow as [the] market 'normalizes'." The company also says pre-payment activity remains strong for now as applications made prior to the rise in interest rates continue to close. Foreclosures, foreclosure starts and delinquency rates all ticked up from October levels. The 60,400 starts represented an increase of 6.9 percent from the previous month but were 9.31 percent below starts in November 2015 and still near a 10-year low. The 30+-day delinquency rate was 4.46 percent in November, a 2.55 percent change
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