US foreclosure filings remain near record high

Foreclosure activity among US properties slipped last month for the first time since May, but remains near a record high as homeowners continue to default in spite of government measures to stabilise the market.

The number of default notices, auction sales and bank repossessions fell by 0.5 per cent from July to 358,471 in August. It was the sixth straight month with more than 300,000 filings and one out of every 357 homes received a foreclosure filing last month, RealtyTrac said on Thursday.

Financial Times

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza