by Bill McBride on 8/24/2015 07:01:00 AM
Monday, August 24, 2015
From Black Knight: Black Knight Financial Services' First Look at July Mortgage Data: Foreclosure Inventory Down 24 Percent Year-Over-Year; Lowest Level Since 2007
According to Black Knight's First Look report for July, the percent of loans delinquent decreased 2% in July compared to June, and declined 16.5% year-over-year.
The percent of loans in the foreclosure process declined 4% in July and were down 24% 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 4.71% in July, down from 4.82% in June.
The percent of loans in the foreclosure process declined in July to 1.40%. This was the lowest level of foreclosure inventory since 2007.
The number of delinquent properties, but not in foreclosure, is down 460,000 properties year-over-year, and the number of properties in the foreclosure process is down 224,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for July in early September.
|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:||1,503,000||1,549,000||1,713000||1,846,000|
|Number of properties that are 90 or more days delinquent, but not in foreclosure:||886,000||895,000||1,136,000||1,347,000|
|Number of properties in foreclosure pre-sale inventory:||711,000||739,000||935,000||1,406,000|