Foreclosure Inventory Rates Rise for Prime
During the first quarter of 2010, the foreclosure inventory rate increased 10 basis points for prime loans (from 3.31% to 3.41%), according to the Mortgage Bankers Association.
Compared with the first quarter of 2009, the rate increased 92 basis points for prime loans. The foreclosure starts rate increased six basis points for prime loans (from 0.86% to 0.92%). Over the past year, the non-seasonally adjusted foreclosure starts rate decreased 14 basis points overall and two basis points for prime loans.