by Calculated Risk on 5/24/2016 08:09:00 AM

From Black Knight: Black Knight Financial Services’ First Look at April Mortgage Data: Lowest Number of Foreclosure Starts in 10 Years; Prepay Activity Falls Despite Low Rates

• At 58,700, April 2016 saw the lowest number of foreclosure starts since April 2006

• National delinquency rate is up from a 9-year low in March, but still 10 percent below last year’s level

• Prepayment speeds (historically a good indicator of refinance activity) fell in April, despite interest rates being near 3-year lows

• Active foreclosure inventory has now dropped below 600,000 for the first time since 2007

According to Black Knight's First Look report for April, the percent of loans delinquent increased 3.8% in April compared to March, and declined 10.3% year-over-year.

The percent of loans in the foreclosure process declined 5.9% in April and were down 27.8% 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 4.24% in April, up from 4.08% in Maarch.

The percent of loans in the foreclosure process declined in April 1.17%.

The number of delinquent properties, but not in foreclosure, is down 235,000 properties year-over-year, and the number of properties in the foreclosure process is down 225,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for April on June 6th.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	Apr 2016	Mar 2016	Apr 2015	Apr 2014
Delinquent	4.24%	4.08%	4.72%	5.59%
In Foreclosure	1.17%	1.25%	1.63%	2.11%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:	2,146,000	2,062,000	2,381,000	2,813,000
Number of properties in foreclosure pre-sale inventory:	595,000	631,000	820,000	1,064,000
Total Properties	2,741,000	2,693,000	3,201,000	3,877,000