Also the percent of loans in the foreclosure process declined further in January and were down 34% over the last year.
Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) decreased to 5.97% from 6.27% in January. The normal rate for delinquencies is around 4.5% to 5%.
The percent of loans in the foreclosure process declined to 2.22% in February from 2.48% in January.
The number of delinquent properties, but not in foreclosure, is down 419,000 properties year-over-year, and the number of properties in the foreclosure process is down 579,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for February in early April.
| Black Knight: Percent Loans Delinquent and in Foreclosure Process | |||
|---|---|---|---|
| February 2014 | January 2014 | February 2013 | |
| Delinquent | 5.97% | 6.27% | 6.80% |
| In Foreclosure | 2.22% | 2.35% | 3.38% |
| Number of properties: | |||
| Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure: | 1,749,000 | 1,851,000 | 1,927,000 |
| Number of properties that are 90 or more days delinquent, but not in foreclosure: | 1,242,000 | 1,289,000 | 1,483,000 |
| Number of properties in foreclosure pre-sale inventory: | 1,115,000 | 1,175,000 | 1,694,000 |
| Total Properties | 4,106,000 | 4,315,000 | 5,104,000 |