Foreclosure starts are now at the lowest level of the millennium, according to a new report from Black Knight.
November’s foreclosure starts marked a 26% decline from last year’s total. This is the lowest monthly volume since Black Knight began recording the metric in 2000, the company said.
Nationally, the foreclosure rate fell 3% from October, hitting its lowest level since 2005.
In November, there were 49,898 U.S. properties with foreclosure filings, ATTOM Data Solutions reported. The company also reported that foreclosure starts were up 13% in October then completely made a u-turn and went down 13% in November.
Although in November, delinquencies rose, they still remain around 5% lower than last year’s level.
Prepayment activity also fell 19% from October’s six-year high.
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.