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Foreclosure rates take a plunge, according to MBA and CoreLogic

Analysts make splash with reports noting delinquent mortgages are falling to levels not seen since financial and housing markets collapsed

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Takeaways: Delinquency and foreclosure rates are at lows not seen since the housing market collapse. The delinquency rate, which includes loans that are at least one payment past due, decreased to a seasonally adjusted rate of 5.3 percent of all loans outstanding at the end of 2Q. Mortgages in serious delinquency declined by 23.3 percent year over year, the lowest seriously delinquent rate since January 2008, CoreLogic reported. Thanks to steady improvements in the economy and rising home prices, mortgage delinquencies and foreclosures continue to drop off, according to recent analyst reports. Both the Mortgage Bankers Association (MBA) and CoreLogic are reporting that delinquency and foreclosure rates are at lows we have not seen since the financial and housing market collapse. According to MBA’s National Delinquency Survey, nearly every state in the nation reported declining foreclosure inventory rates during the second quarter. The delinquency rate, which ...