Foreclosures see uptick last month

Foreclosures see uptick last month

The number of foreclosure filings in the U.S. increased four percent from July to August with the addition of 53,007 properties nationwide. That equates to approximately one in every 2,554 properties. Despite last month’s increase, overall filings remain 24 percent lower than they were a year ago.

This latest information comes from ATTOM Data Solutions.

There were 11,493 homes repossessed by lenders in August, up four percent from the previous month but 47 percent less than the same period last year. This is a reversal of the previous 10 months of declines.

San Diego saw 230 foreclosure starts last month, down 19 percent year-over-year.

Today, conforming no-point 30-year fixed mortgage rates are averaging 3.625 percent and 15-year rates are near 3.125 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.