Lowest foreclosure rate in past 9 years

foreclosurenotice-300x200By Jann Swanson | Mortgage News Daily

The national foreclosure inventory, homes somewhere in the process of foreclosure, along with other measures of housing distress, continued to decline in April. CoreLogic said today that there were 406,000 homes in the inventory in April, 1.1 percent of all homes in the country with a mortgage. This is down from 530,000 or 1.4 percent a year earlier and a 3 percent decline from March. It is the lowest rate for any month since September 2007.

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