by Bill McBride on 9/25/2015 11:59:00 AM
Friday, September 25, 2015
Black Knight's First Look at August: Mortgage "Delinquency Rate Sees Largest 12-Month Decline in Four Years"
From Black Knight: Black Knight Financial Services' First Look at August Mortgage Data: Despite Monthly Rise, Delinquency Rate Sees Largest 12-Month Decline in Four Years
According to Black Knight's First Look report for August, the percent of loans delinquent increased 2.5% in August compared to July, and declined 18.2% year-over-year.
The percent of loans in the foreclosure process declined 2% in August 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 4.83% in August, up from 4.71% in July.
The percent of loans in the foreclosure process declined in August to 1.37%. This was the lowest level of foreclosure inventory since 2007.
The number of delinquent properties, but not in foreclosure, is down 548,000 properties year-over-year, and the number of properties in the foreclosure process is down 217,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for August in early October.
|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:||1,582,000||1,503,000||1,852000||1,836,000|
|Number of properties that are 90 or more days delinquent, but not in foreclosure:||865,000||886,000||1,143,000||1,288,000|
|Number of properties in foreclosure pre-sale inventory:||696,000||711,000||913,000||1,341,000|