Talking Points …
- About 0.38 percent of loans went into the foreclosure process during the third quarter, which is the lowest rate since the second quarter of 2005, according to a new report from the Mortgage Bankers Association.
- About 3.57 percent of loans were at least 90 days past due, the lowest rate since the third quarter of 2007. A healthy job market and rising home prices have led to a steady abatement of the foreclosure crisis over the past five years.
- Now, the foreclosure problem is largely isolated to loans made before 2009 and a few intractable markets that have been slow to process them.