Foreclosure stats according to MBA:
|2nd qtr 2008||1st qtr 2008||2nd qtr 2007|
|In Foreclosure Process||2.75||2.47||1.4|
|Foreclosure Starts by Loan Type:|
|Fixed Rate Loans||0.34||0.29|
Foreclosures in California and Florida increased (accounting for 39% of the total foreclosures started in the second quarter), offsetting the improvements in Texas, Massachusetts and Maryland.
There were 8 states that exceeded the national average: Nevada, Florida, California, Arizona, Michigan, Rhode Island, Indiana, and Ohio.
So, have we hit the bottom? Who knows? Just buy extra candy for the kiddies this year to make up for the vacant homes, if any, in your local market!
For the full story, click here: MBA
Opinions expressed here are the sole responsibility of the author, and do not necessarily reflect the view of Fairway Independent Mortgage.
Ruth Vogt, Sales Manager
#LMB100023827, NMLSR# 257576
Equal Housing Opportunity.
Regulated by the Division of Real Estate.