Oct 27, 2021 - Economy

Home foreclosures are at record lows

A chart showing foreclosure activity
Data: Black Knight; Chart: Axios Visuals

Two months after the federal foreclosure moratorium ended, foreclosure activity in the U.S. is at a record low.

What's happening: CARES Act protections, like forbearance and loss mitigation processes, give borrowers more time and options to avoid losing their homes.

By the numbers: Foreclosures saw a noticeable uptick in August, to 7,100 homes from 4,200 in July — but that number retreated to 3,900 in September, or 0.3% of home loans, according to Black Knight, a mortgage technology and data provider.

What to watch: Foreclosures are expected to tick back up again late this year or in early 2022, Andy Walden, director of market research at Black Knight, tells Axios.

  • That forecast is based on the number of loans currently working their way through forbearance, he adds.
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