by Calculated Risk on 6/21/2018 07:00:00 AM
Thursday, June 21, 2018
Black Knight: National Mortgage Delinquency Rate Decreased in May, Foreclosure Inventory Close to Pre-Recession Average
• At 44,900, May 2018 saw the second lowest monthly foreclosure starts in more than 17 yearsAccording to Black Knight's First Look report for May, the percent of loans delinquent decreased 0.8% in May compared to April, and decreased 4.1% year-over-year.
• Just 303,000 mortgages remain in active foreclosure; at 0.59 percent, the national foreclosure rate is now at its lowest point in 15 years
• At the current rate of decline, national foreclosure inventories are on pace to hit the pre-recession average (2000-2005) in early Q3 2018
• May marked five consecutive months of declining delinquencies, as post-hurricane improvement continues
• Delinquency improvements in hurricane-affected areas more than offset slight increases in non-impacted markets in May, dropping the national delinquency rate to its lowest level in 15 months
The percent of loans in the foreclosure process decreased 3.3% in May and were down 28.7% 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 3.64% in May, down from 3.67% in April.
The percent of loans in the foreclosure process decreased in May to 0.59%.
The number of delinquent properties, but not in foreclosure, is down 60,000 properties year-over-year, and the number of properties in the foreclosure process is down 118,000 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:||1,867,000||1,885,000||1,927,000||2,153,000|
|Number of properties in foreclosure pre-sale inventory:||303,000||314,000||421,000||574,000|
Posted by Calculated Risk on 6/21/2018 07:00:00 AM