by Bill McBride on 7/23/2015 02:45:00 PM
Thursday, July 23, 2015
From Black Knight: Black Knight Financial Services’ “First Look” at June Mortgage Data: Foreclosure Inventory at Lowest Level Since 2007, Still Three Times “Normal” Rate
According to Black Knight's First Look report for June, the percent of loans delinquent decreased 3% in June compared to May, and declined 15.5% year-over-year.
The percent of loans in the foreclosure process declined 2% in June and were down 23% 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 4.82% in June, down from 4.96% in May.
The percent of loans in the foreclosure process declined in June to 1.46%. This was the lowest level of foreclosure inventory since 2007.
The number of delinquent properties, but not in foreclosure, is down 439,000 properties year-over-year, and the number of properties in the foreclosure process is down 212,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for June in early August.
|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:||1,549,000||1,591,000||1,728000||1,983,000|
|Number of properties that are 90 or more days delinquent, but not in foreclosure:||895,000||922,000||1,155,000||1,345,000|
|Number of properties in foreclosure pre-sale inventory:||739,000||754,000||951,000||1,458,000|