by Bill McBride on 1/23/2015 07:01:00 AM
Friday, January 23, 2015
According to Black Knight's First Look report for December, the percent of loans delinquent decreased 7% in December compared to November, and declined 13% year-over-year.
The percent of loans in the foreclosure process declined further in December and were down about 35% over the last year.
Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 5.64% in December, down from 6.08% in November. The normal rate for delinquencies is around 4.5% to 5%.
The percent of loans in the foreclosure process declined to 1.61% in December from 1.63% in November.
The number of delinquent properties, but not in foreclosure, is down 375,000 properties year-over-year, and the number of properties in the foreclosure process is down 424,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for December in early February.
|Black Knight: Percent Loans Delinquent and in Foreclosure Process|
|Number of properties:|
|Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:||1,736,000||1,925,000||1,964,000||2,031,000|
|Number of properties that are 90 or more days delinquent, but not in foreclosure:||1,132,000||1,163,000||1,280,000||1,545,000|
|Number of properties in foreclosure pre-sale inventory:||820,000||829,000||1,244,000||1,716,000|