Delinquencies, Foreclosures Decline in Q3
Washington, DC, Nov. 15, 2012 -- Mortgage delinquencies and home foreclosures declined during the third quarter, the Mortgage Bankers Association said.
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The delinquency rate, which includes mortgages that are past due but not yet in foreclosure, fell to 7.4% during the third quarter, down from 7.58% in the second quarter and 7.99% in the third quarter of last year.
The percentage of mortgages in the foreclosure process was 4.07%, down from 4.27% in the second quarter and 4.43% a year ago.
The percentage of properties entering the foreclosure process hit its lowest level since 2007.