Monday, August 22, 2016

Black Knight's First Look at July Mortgage Data

by Bill McBride on 8/22/2016 08:17:00 AM

CR Note: The month-to-month increase in delinquencies is mostly seasonal (happens every July). I'm in NYC, and posting will be intermittent. Best to all.

From Black Knight: Black Knight Financial Services’ First Look at July Mortgage Data: Delinquencies Continue Seasonal Climb; Prepayments Defy Historically Low Interest Rates, Growing Refinanceable Population

JACKSONVILLE, Fla. – Aug. 22, 2016 -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) reports the following “first look” at July 2016 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 4.51% Month-over-month change: 4.78% Year-over-year change: -3.38%

Total U.S. foreclosure pre-sale inventory rate: 1.09% Month-over-month change: -1.68% Year-over-year change: -28.36%

Total U.S. foreclosure starts: 61,300 Month-over-month change: -11.54% Year-over-year change: -14.27%

Monthly Prepayment Rate (SMM): 1.26% Month-over-month change: -11.98% Year-over-year change: -1.00%

Foreclosure Sales as % of 90+: 1.99% Month-over-month change: -13.65% Year-over-year change: 1.05%

Number of properties that are 30 or more days past due, but not in foreclosure: 2,286,000 Month-over-month change: 108,000 Year-over-year change: -70,000

Number of properties that are 90 or more days past due, but not in foreclosure: 695,000 Month-over-month change: 3,000 Year-over-year change: -147,000

Number of properties in foreclosure pre-sale inventory: 550,000 Month-over-month change: -8,000 Year-over-year change: -214,000

Number of properties that are 30 or more days past due or in foreclosure: 2,836,000 Month-over-month change: 100,000 Year-over-year change: -284,000Ca