Foreclosure Rate At 10 Year Low

Foreclosure 10 year low

This has to be an indication of all the money floating around. As outlined by Axios:

Two months after the federal foreclosure moratorium ended, foreclosure activity in the U.S. is at a record low.

What’s happening: CARES Act protections, like forbearance and loss mitigation processes, give borrowers more time and options to avoid losing their homes.

By the numbers: Foreclosures saw a noticeable uptick in August, to 7,100 homes from 4,200 in July — but that number retreated to 3,900 in September, or 0.3% of home loans, according to Black Knight, a mortgage technology and data provider.

What to watch: Foreclosures are expected to tick back up again late this year or in early 2022, Andy Walden, director of market research at Black Knight, tells Axios. That forecast is based on the number of loans currently working their way through forbearance, he adds.

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