Despite Historically-Low Rates, Foreclosures Increasing in Areas

LPS – foreclosures down . The March Mortgage Monitor report released by Lender Processing Services, Inc. shows that while March foreclosure starts increased a modest 8.1% since last month, overall, they were still down more than 31% year-over-year. Also in March, first-time foreclosure starts hit a five-month high.

Tampa Bay was among the metro areas hardest hit as thousands of borrowers who had obtained loans despite shaky credit and finances. That could account at least in part for Florida’s increased.

Increase signals banks are moving more aggressively against borrowers who have fallen behind on mortgage payments. In all, 195,878 properties received a default notice in the third quarter. Despite the sharp increase from the second quarter, the total was still down 27 percent versus the third quarter last year, RealtyTrac said.

"The combination of rapidly rising home prices and historically low interest rates has resulted in a substantial increase in the number of homeowners taking out a home equity line of credit (HELOC) in.

Housing demand sees biggest drop in more than 2 years. 1:57 PM ET Wed, 1 aug 2018 housing demand has been very strong, but red-hot home prices, combined with higher mortgage rates, are finally taking their toll on affordability and demand. Housing demand in June fell by the biggest margin since April 2016.

Real estate daily market update: November 21, 2017. by Inman Staff Writer.. "Historically low rates offer some relief in the form of strong borrowing power, however rates are expected to rise.

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Jobless claims increase to three-week high: “Filings for U.S. unemployment benefits rose for a second week but remained near historically low levels. investment declined at a 1.0% annualized rate.

But despite this downward national trend, 40% of local markets showed an uptick in foreclosure starts in the first half of this year. Among the 88 of the 219 metro areas analyzed that showed an.

 · Despite the nationwide decrease, 28 out of 220 metro areas analyzed in ATTOM’s report posted a year-over-year increase in REOs in July, including Cincinnati, Ohio (up 33%); Jacksonville, Florida.