The foreclosure inventory for the week ended August 7th increased slightly in both REO and non-REO properties. The REO properties continue to represent a fraction of the overall inventory (about 8%), but there are many good deals available.
There are still ample opportunities to get a great deal on a home, but it's a good idea to act quickly before interest rates get too crazy. Most mortgages now are fixed rate, so locking in today at a reasonable rate could be the smartest move you can make.
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