The average interest rate on a 30-year, fixed-rate mortgage for the week ending Dec. 13th declined to 3.32% from 3.34% a week earlier according to Freddie Mac. Comparatively, that is down from 3.94% a year ago.
Big five banks see 41% drop in notices of default/notices of trustee sales
Nationally, foreclosure filings fell 3% from October to November, and 19% from last year, RealtyTrac said. The nation reported 180,817 properties as being in some state of foreclosure, making it the 26th consecutive month featuring an annual drop in foreclosure activity.
The big five lenders involved in the national mortgage settlement saw their combined notice of default filings (NOD) and notices of trustee sale (NTS) decline 41% when comparing November filings to a year earlier, RealtyTrac said Thursday.
Preforeclosure filings down significantly with Bank of America and Citi
When breaking out pre-foreclosure activity initiated by the big banks in nonjudicial foreclosure states (includes Washington State) last month, Bank of America pre-foreclosure filings are down 63% from a year ago. The mega bank was followed by Citi, which saw its own pre-foreclosure activity levels drop 40% annually last month.