by Bill McBride on 2/22/2016 09:01:00 AM
Monday, February 22, 2016
- Delinquency rate up 6.6 percent in January; back above 5 percent nationally for the first time in 11 monthsAccording to Black Knight's First Look report for January, the percent of loans delinquent increased 6.6% in January compared to December, and declined 7.1% year-over-year.
- Prepayment rate (historically a good indicator of refinance activity) dropped 29 percent to its lowest level since February 2014
- Foreclosure sales (completions) up nearly 16 percent following holiday moratoriums
- Active foreclosure inventory continues to decline; down 26 percent from last year
The percent of loans in the foreclosure process declined 4.5% in December and were down 25.7% 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 5.09% in January, down from 4.79% in December.
The percent of loans in the foreclosure process declined in January to 1.30%.
The number of delinquent properties, but not in foreclosure, is down 229,000 properties year-over-year, and the number of properties in the foreclosure process is down 226,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for January in early March.
|Black Knight: Percent Loans Delinquent and in Foreclosure Process|
|Number of properties:|
|Number of properties that are delinquent, but not in foreclosure:||2,575,000||2,408,000||2,764,000||3,150,000|
|Number of properties in foreclosure pre-sale inventory:||659,000||689,000||885,000||1,213,000|
Posted by Bill McBride on 2/22/2016 09:01:00 AM