Foreclosure starts surge to early 2020 levels

The national delinquency rate cooled last month, while foreclosure activity hit its highest level since early 2020, a new industry report shows.

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Delinquencies fell by three basis points to 3.65% in January, 15 basis points below prepandemic levels, but foreclosure starts caught up with its 2020 numbers last month, totaling 42,000, according to Intercontinental Exchange’s…