by Calculated Risk on 4/19/2018 10:41:00 AM
Thursday, April 19, 2018
• Seasonal effects and continued hurricane-related improvements contributed to a 13 percent decline in the national delinquency rate in MarchAccording to Black Knight's First Look report for March, the percent of loans delinquent decreased 13.2% in March compared to February, but increased 3.1% year-over-year.
• Nationally, there was a decline of 65,000 in serious delinquencies (90 or more days past due but not yet in foreclosure)
• Serious delinquencies attributable to Hurricanes Harvey and Irma saw a reduction of 19,500 loans
• However, as the hurricane impact shifts away from delinquencies, foreclosure starts rose by 12 percent
• More than two-thirds of that increase came from hurricane-affected areas of Texas and Florida
• Overall, active foreclosure inventory continues to improve, falling another 10,000 loans in March to its lowest level since late 2006
• Despite interest rates remaining above 4.4 percent, prepayment activity in March increased by 22 percent from February’s 4-year low
The percent of loans in the foreclosure process decreased 3.2% in March and were down 29.3% 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 3.73% in March, down from 4.30% in February.
The percent of loans in the foreclosure process decreased in March to 0.63%.
The number of delinquent properties, but not in foreclosure, is up 81,000 properties year-over-year, and the number of properties in the foreclosure process is down 127,000 properties year-over-year.
|Black Knight: Percent Loans Delinquent and in Foreclosure Process|
|Number of properties:|
|Number of properties that are delinquent, but not in foreclosure:||1,912,000||2,198,000||1,831,000||2,062,000|
|Number of properties in foreclosure pre-sale inventory:||321,000||331,000||448,000||631,000|
Posted by Calculated Risk on 4/19/2018 10:41:00 AM