Markets & Economy

Foreclosure rate hits 8-year low

Number of mortgages more than 90 days past due also declined by 23 percent

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Takeaways: Foreclosure inventory dropped by 28.9 percent and completed foreclosures declined by 14.8 percent between June 2014 and June 2015. The foreclosure rate of 1.2 percent is the lowest since December 2007. June also posted the lowest serious delinquency rate seen in some time. According to CoreLogic, foreclosure inventory dropped by 28.9 percent and completed foreclosures declined by 14.8 percent between June 2014 and June 2015. The national foreclosure inventory at the end of June included approximately 472,000, or 1.2 percent, of all homes with a mortgage compared with 664,000 homes, or 1.7 percent, in June 2014. The foreclosure rate of 1.2 percent is the lowest since December 2007. The number of foreclosures nationwide decreased year over year from 50,000 in June 2014 to 43,000 in June 2015, representing a decrease of 63.3 percent from the peak of 117,119 completed foreclosures in September 2010. However, on a month-over-month basis, completed f...