Also the percent of loans in the foreclosure process declined further in July and were down 34% over the last year. Foreclosure inventory was at the lowest level since March 2008.
Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 5.64% in July, down from 5.70% in June. The normal rate for delinquencies is around 4.5% to 5%.
The percent of loans in the foreclosure process declined to 1.85% in July from 1.88% in June.
The number of delinquent properties, but not in foreclosure, is down 344,000 properties year-over-year, and the number of properties in the foreclosure process is down 471,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for July in early September.
| Black Knight: Percent Loans Delinquent and in Foreclosure Process | ||||
|---|---|---|---|---|
| July 2014 | June 2014 | July 2013 | July 2012 | |
| Delinquent | 5.64% | 5.70% | 6.41% | 7.03% |
| In Foreclosure | 1.85% | 1.88% | 2.82% | 4.08% |
| Number of properties: | ||||
| Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure: | 1,713,000 | 1,728,000 | 1,846,000 | 1,960,000 |
| Number of properties that are 90 or more days delinquent, but not in foreclosure: | 1,136,000 | 1,155,000 | 1,347,000 | 1,650,000 |
| Number of properties in foreclosure pre-sale inventory: | 935,000 | 951,000 | 1,406,000 | 2,042,000 |
| Total Properties | 3,785,000 | 3,834,000 | 4,599,000 | 5,562,000 |