According to the Mortgage Bankers Association's National Delinquency Survey, foreclosures and delinquencies are both down with the delinquency down by 77 points from last year. HousingWire staffer Kelsey Ramirez takes a look at how the rate of delinquencies have improved to pre-recession levels and foreclosure starts have fallen to their lowest rate since 2000.
Foreclosure starts during the first quarter of this year fell to 0.35%, representing a 10 basis point decrease from last year. These changes are seen across the most states:
“A total of 28 states and Washington, DC either saw decreases or no change in the foreclosure starts rate this quarter, while the remaining 22 states experienced increases in the foreclosure starts rate,” Walsh said. “Only two of these 22 states have strictly non-judicial processes in place.”