by Calculated Risk on 5/23/2018 02:38:00 PM
Wednesday, May 23, 2018
Black Knight: National Mortgage Delinquency Rate Decreased in April, Foreclosure Inventory Lowest since August 2006
• Historically, mortgage delinquencies have risen 85 percent of the time in April; this month they declined 1.6 percent – about equal to the size of their average usual increaseAccording to Black Knight's First Look report for April, the percent of loans delinquent decreased 1.6% in April compared to March, and decreased 10.2% year-over-year.
• April’s improvement halted a seven-month trend of annual increases in the national delinquency rate
• Areas impacted by Hurricanes Harvey and Irma led April’s delinquency improvement, but slight declines were seen in non-affected areas as well
• Over 90,000 seriously delinquent mortgages (90 or more days past due) attributed to the 2017 hurricane season remain in affected areas of Texas, Florida and Georgia
• The number of mortgages in active foreclosure hit its lowest point since August 2006
The percent of loans in the foreclosure process decreased 2.3% in April and were down 28.4% 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 3.67% in April, down from 3.73% in March.
The percent of loans in the foreclosure process decreased in April to 0.61%.
The number of delinquent properties, but not in foreclosure, is down 187,000 properties year-over-year, and the number of properties in the foreclosure process is down 119,000 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:||1,885,000||1,912,000||2,072,000||2,146,000|
|Number of properties in foreclosure pre-sale inventory:||314,000||321,000||433,000||820,000|
Posted by Calculated Risk on 5/23/2018 02:38:00 PM