by Bill McBride on 12/22/2016 02:11:00 PM
Thursday, December 22, 2016
Black Knight: Annual improvement in mortgage delinquency rates is beginning to slow as market "normalizes"
• Delinquency rate up by 2.5 percent, a relatively mild seasonal increase by historical standardsAccording to Black Knight's First Look report for November, the percent of loans delinquent increased 2.5% in November compared to October, and declined 9.4% year-over-year.
• Annual improvement in mortgage delinquency rates is beginning to slow as market "normalizes"
• Number of loans in active foreclosure drops below 500K for the first time in nearly 10 years
• Pre-payment activity remains strong, for now, as applications made prior to the rise in interest rates continue to close
The percent of loans in the foreclosure process declined 1% in November and were down 29% 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 4.46% in November, up from 4.35% in October.
The percent of loans in the foreclosure process declined in November to 0.98%.
The number of delinquent properties, but not in foreclosure, is down 228,000 properties year-over-year, and the number of properties in the foreclosure process is down 200,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for November on January 9th.
|Black Knight: Percent Loans Delinquent and in Foreclosure Process|
|Number of properties:|
|Number of properties that are delinquent, but not in foreclosure:||2,263,000||2,202,000||2,491,000||3,037,000|
|Number of properties in foreclosure pre-sale inventory:||498,000||504,000||698,000||883,000|
Posted by Bill McBride on 12/22/2016 02:11:00 PM