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Foreclosures at an 18 Year Low; NAR Upbeat on Homebuyer Optimism

Foreclosures at an 18 Year Low; NAR Upbeat on Homebuyer Optimism

Foreclosure starts hit an 18-year low in August and were down 23 percent compared to the previous August. Black Knight, in its First Look at August loan performance data, said there were 36,200 starts during the month, a 7.65 percent month-over-month decline. It was the fewest foreclosure starts since December 2000. Starts were only one indication of the general improvement in mortgage delinquencies. The number of loans in active foreclosure, i.e. the foreclosure inventory, fell to 253,000, slightly less than a half percent of all mortgaged properties. This is 5,000 fewer than in July and down 28,000 loans from the level in August 2018. The inventory is now the smallest it has been since 2005 . The number of mortgages that were 30 or more days past due but not in foreclosure rose by 6,000 from
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