by Bill McBride on 4/24/2015 09:15:00 AM
Friday, April 24, 2015
According to Black Knight's First Look report for March, the percent of loans delinquent decreased 12% in March compared to February, and declined 15% year-over-year.
The percent of loans in the foreclosure process declined 2% in March and were down about 27% 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 4.70% in March, down from 5.36% in February. This is the lowest level of delinquencies since August 2007.
The percent of loans in the foreclosure process declined in March to 1.55%. This was the lowest level of foreclosure inventory since December 2007.
The number of delinquent properties, but not in foreclosure, is down 390,000 properties year-over-year, and the number of properties in the foreclosure process is down 288,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for March in early May.
|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:||1,409,000||1,646,000||1,571,000||1,842,000|
|Number of properties that are 90 or more days delinquent, but not in foreclosure:||971,000||1,067,000||1,199,000||1,466,000|
|Number of properties in foreclosure pre-sale inventory:||782,000||800,000||1,070,000||1,689,000|