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Foreclosure filings decline by 19 percent in July

Posted by Mehran Aram on Mon, Aug 26, 2019 @ 15:08 PM

Foreclosures filings in the U.S. have fallen yet again according to new information released last week. ATTOM Data Solutions shared in its July 2019 Foreclosure and Market Report that filings, default notices, scheduled auctions and bank repossessions were down 19 percent from June and 21 percent from the same period last year.

Nationally, there was a total of 51,056 properties with foreclosure filings against them in July. Counter to the national trend, 21 states and the District of Columbia actually posted year-over-year increases in foreclsoure starts. Lenders repossessed over 11,000 homes in the U.S.

California has seen double digit drops in its statewide foreclosure rate for several months.

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 3.625 percent and 15-year rates are near 3.125 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.

Topics: foreclosures, Foreclosure Filings, ATTOM Data Solutions, Foreclosure Starts

U.S. foreclosure activity lowest since 2008

Posted by Mehran Aram on Tue, Apr 16, 2019 @ 05:04 AM

Foreclosures nationwide ended Q1 at their lowest point since 2008. ATTOM Data Solutions released its Q1 2019 U.S. Foreclosure Market Report, which showed foreclosure filings, default notices, scheduled auctions and bank repossessions were down 23 percent from the previous quarter and 15 percent from the same period last year.

There was a total of 58,550 U.S. properties with foreclosure filings in March 2019. While this is up seven percent from the previous month it is still 21 percent less than last year and the ninth consecutive month of year-over-year declines.

“While we did see a slight increase in U.S. foreclosure starts from last quarter, bank repossessions reached an all time low in the first quarter of 2019,” said Todd Teta, chief product officer at ATTOM. “[This] shows continuing signs of a strong housing market.”

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 4.125 percent, 15-year rates are near 3.625 percent and the 5-year ARM is averaging 4.00 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.

Topics: foreclosures, Default Notices, Foreclosure Filings, ATTOM Data Solutions, Bank Repossessions, Foreclosure Activity

Foreclosure filings at lowest levels since 2005

Posted by The Aramco Group on Fri, Oct 12, 2018 @ 12:10 PM

The number of Americans whose properties are at some point in the foreclosure process has fallen to a 13-year low according to new data. Homeowners with default notices, scheduled auctions or bank repossessions is down 6 percent as of Q3 compared to Q2 and down 8 percent from last year. This latest information comes from ATTOM Data Solutions’ Q3 2018 U.S. Foreclosure Market Report.

In total there were 177,146 U.S. properties with foreclosure filings last quarter. This represents a 36 percent decrease from the pre-recession average of 278,912. Counter to the national trend, there were some major metropolitan markets where foreclosure starts increased including in San Diego. There were 744 filings in San Diego, up four percent from last year.

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 4.75 percent, 15-year rates are near 4.25 percent and the 5-year ARM is averaging 4.25 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.

Topics: San Diego County, San Diego, foreclosure, Mortgage rates, Default Notices, Foreclosure Filings