Tuesday, August 28, 2012

Foreclosures Down 16% as Servicers Embrace Alternatives; Rates Return to Recent Lows

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Aug 28, 2012 11:21AM

Foreclosures Down 16% as Servicers Embrace Alternatives

CoreLogic's July National Foreclosure Report , released today, reported completed foreclosures during the month totaled 58,000 compared to 62,000 in June and 69,000 in July 2011. The foreclosure inventory, an indicator of homes in any stage of foreclosure, was unchanged from June at 1.3 million homes or 3.2 percent of all homes with a mortgage . On an annual basis, however, this was a decrease from 1.5 million properties or 3.5 percent of mortgaged homes. "The decline in completed foreclosures is...

Aug 28, 2012 2:29PM

Mortgage Rates Fall Back To Recent Lows

Mortgage rates moved moderately lower today in most cases. Although the drop wasn't fast-paced or abrupt, the recent range of rates has been extremely narrow. As such, a merely "medium-sized" move has carried rates just barely beyond their best levels of the past two weeks which are also the best levels since the first few days of the month. The gains aren't sufficient for a change in the Conventional 30yr Fixed Best-Execution rate, which continues at 3.5% . That said, different lenders continue...


Micro News

3:28 PM:

Some Weakness For MBS In Late-Day, Light Liquidity

1:30 PM:

2yr Treasury Auction Passes Without A Trace. MBS Stay Bid

10:07 AM:

ECON: Consumer Confidence Much Lower Than Expected

9:05 AM:

Home Prices Rose in the Second Quarter of 2012 - S&P/Case-Shiller

8:57 AM:

Bond Markets Open Slightly Stronger After Quiet Overnight Session

12:48 PM:

Slow, Steady Grind To Stronger Levels

9:52 AM:

Closer Look At One Of The Fed's Potential Bullets, And Why We're Not Likely To See It

9:00 AM:

Bond Markets Open In Slightly Better Territory. Uneventful Overnight

Around the Web

Video News

Economists Shiller, Case on Home Prices, Fed Policy

Is Mortgage Tax Break Dead?

FDIC Quarterly Banking Report


Today's Comments

Victor Burek

"all we have to do is find 1000 more companies like AIG to bailout and we could pay off the national debt."

Gina Pogol

"Well, there should be some consequences if you dump the deficiency on the lender. If you sign a promissory note and did not skip mortgage payments, they..."

Ted Rood

"Great that borrowers won't be forced into deliquency to do a short sale, but they'll still face issues getting a new mortgage. This could fix 1..."

Today's Q&A

"Automatic Transfer of Escrow Account"

"the deed of the house "

"what is the difference between warranty deed and quit deed? "