Foreclosure filings increase 15 percent from the previous month, but still are down 8 percent from a year ago, according to RealtyTrac’s Foreclosure Market Report.
The United States has seen a 112% increase in the number of foreclosures in the past 12 months. This is an indicator that most of the American citizens are not in a position to pay their mortgages in time hence they are evicted out of their houses.
There are expectations that if the economy in the United States does not improve there will be an increase in the number of foreclosures and the percentage may hit 150%. This is because more people are becoming bankrupt each day.
October refinance transaction volume rose to 40 percent of title mortgage volume, the highest level in six months, according to Ellie Mae’s latest Origination Insight Report.