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.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.