Molly Basil
π€ SpeakerAppearances Over Time
Podcast Appearances
It's a flashing warning sign that consumers are under stress.
We're not looking at any kind of foreclosure wave or foreclosure shock here like we did during the financial crisis.
Out of all the active mortgages in the U.S., nearly half a percent of them are in foreclosure.
Mortgage delinquencies were also up 3 percent in March from a year earlier.
Molly Basil is Quotality's principal economist.
But while this is the first foreclosure increase in a while, it is still just a small increase.
Bezos says the increase was shallow but widespread.
More than 75 percent of metros across the country saw an increase in their foreclosure rate.