Which States Lead Foreclosure Risk?
Foreclosures pulled back in May, but the pressure is still running hotter than last year.
That is the part investors should watch.
May brought 40,355 filings nationwide, with Florida, South Carolina, Maryland, Nevada and Indiana showing the highest rates.
Distress is becoming a state-by-state story, and the best opportunities are starting to look local.
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U.S. Foreclosure Rates by State
Foreclosure activity cooled from April, but the pressure is still higher than last year. May brought 40,355 filings nationwide, with Florida, South Carolina, Maryland, Nevada and Indiana posting the highest rates. Distress is still showing up locally first.
US Government Sold $518 Billion of Treasury Securities this Week
Treasury yields jumped after a huge week of government borrowing and a sharper tone from the Fed. The U.S. sold $518B of securities, while 6-month to 2-year yields spiked as traders priced in tighter policy and higher short-term rates.
Homeowners Tapped $47 Billion in Equity in the First Quarter
Homeowners are pulling cash from their homes again, tapping $47B in equity in Q1, the highest first-quarter level since 2021. With $11T in available equity and many owners locked into low-rate mortgages, HELOCs are becoming the easier route.
Home Flipping Returns Edge Up After Seven Quarters of Decline
Flipping returns finally ticked higher after seven straight quarters of decline. The typical flip made a 25.4% return in Q1, but the real story is local. Pittsburgh and Buffalo posted huge margins, while major Texas metros barely cleared single digits.
Mortgage Applications Give Back Some of Last Week’s Gains
Mortgage demand slipped after last week’s bounce as rates moved with inflation data and geopolitical headlines. Total applications fell 3.8%, led by a 5% drop in refis, while purchase demand eased but stayed 3% above last year’s pace.
What’s Really Behind the Current Housing Affordability Crisis
Zillow says the affordability crisis comes down to one basic problem: America is short 4.7 million homes. Buyers are also dealing with higher rates, tight listings and private networks that hide inventory, making access to available homes even more important.
