June foreclosure starts plummet to lowest level in nearly 2 decades
9 Oct 2018
Foreclosure inventory hits post-recession low
Foreclosure starts just plummeted in June to their lowest level in 17 years, according to the latest report from Black Knight.
Foreclosure starts dropped 3.1% from May to June to the lowest single-month total in more than 17 years, according to the report.
The inventory of mortgages in active foreclosure dove 30% from last June, according to the report. This brought active foreclosures down by 119,000 loans to below 300,000 for the first time in nearly 12 years.
However, despite these decreases in foreclosures, Black Knight’s data also shows delinquencies, mortgages that are 30 days or more past due, inched up 2.71% in June, but remained 1.6% below last year’s levels. This brought total delinquencies to 3.74% of all homes with a mortage in June.