Rise in Foreclosures Starts Isolated to Few State

Rise in Foreclosures Starts Isolated to Few State

Completed foreclosures in 2013 are projected to be down about 27 percent from last year — the lowest since 2007, RealtyTrac reported Thursday. 

The projected 490,000 foreclosures this year is a far cry from the peak of 1.05 million foreclosures in 2010.

The country is on track to end the year with the lowest number of homes repossessed by lenders in the last six years, according to RealtyTrac. And the drop in repossessions and foreclosures should help boost home values, the firm said. Lenders also initiated fewer foreclosures in July, down 38 percent year-over-year, RealtyTrac reports. Mortgage Rates Stabilize, with 30-Year: Having spent the last several months bouncing around.