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Delinquencies and Foreclosures at 10-Year Lows
Tuesday, February 12, 2019
According to CoreLogic, loan performance
continues to improve on a national basis, with delinquencies dropping more than 1 percentage point
over the 12 months ended in November 2018.
Frank Nothaft, CoreLogic's Chief Economist, said the decline was driven
by solid income growth, a record amount of home equity and an absence of
high-risk loan products. "This put the
U.S. homeowner on solid ground. All of this has helped push delinquency and
foreclosure rates to the lowest levels in almost two decades, and will provide
a cushion if the housing market should turn down," he said.
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