The housing bubble burst 10 years ago, but loans from that era of go-go lending are still accounting for about half of foreclosures, a Los Angeles data firm reported Thursday.
The U.S. foreclosure rate was 0.7% in 2016, slightly lower than 2015, and remaining "within an historically normal range for the third consecutive year," according to Daren Blomquist, senior vice president at ATTOM Data Solutions.
Its U.S. Foreclosure Market Report showed that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 933,045 properties in 2016, down 14% from 2015 to the lowest level since 2006.
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