Mortgages that are at least 30 days late dropped to the lowest level since the second quarter of 2007, according to Bloomberg. New loans entering foreclosure are back to the historical average of 0.45%. But while new loans may be back to average, we still haven’t completely worked through the foreclosures that occurred during the crash — and that means that home prices still haven’t gotten back to where they were, either. Prices have recovered 30% since their low in March 2012, including 5% in the year through February; but they’re still 16% below their 2006 high.
