We saw good economic signs as mortgage foreclosures dropped in April.
The Lakeland Ledger reports that foreclosures were down in April, which is indicative of foreclosure rates in Florida and the U.S.
Polk’s total foreclosure activity (default notices, scheduled auctions and repossessions), was down about 21 percent from March, and increased 5 percent from last year, according to RealtyTrac.
The National Mortgage Professional reports that foreclosure filings dropped in April.
RealtyTrac released its U.S. Foreclosure Market Report for April 2014, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 115,830 U.S. properties in April, a one percent decrease from the previous month and down 20 percent from April 2013. The report also shows one in every 1,137 U.S. housing units with a foreclosure filing during the month.
April’s drop in mortgage foreclosures is another sign of an improving economy, which continues to result in an improving housing market with rising mortgage rates.
This also corresponds to the lower lending standards we’ve been reporting about, making it easier for home buyers to get a mortgage.
If you’ve been thinking about purchasing a home or refinancing, we are still enjoying great interest rates, though they are expected to rise over the next few years.