by Calculated Risk on 11/25/2019 08:49:00 AM
Monday, November 25, 2019
• The national delinquency rate fell to 3.39% in October, a nearly 7% decline from last year, and within 0.03% of the record low set in May 2019According to Black Knight's First Look report for October, the percent of loans delinquent decreased in October compared to September, and decreased 6.9% year-over-year.
• Serious delinquencies fell by 10,000 from September, while the number of loans in active foreclosure edged up slightly (+3,000)
• Prepayment activity climbed another 16% in October to the highest level since May 2013
• Prepays are now up 134% year-over-year as refinancing homeowners continue to take advantage of low interest rates
• However, modest rises in 30-year rates in recent weeks – coupled with seasonal slowing in home sales – may dampen prepayment rates in coming months
The percent of loans in the foreclosure process increased 1.0% in October and were down 6.2% 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 3.39% in October, down from 3.53% in September.
The percent of loans in the foreclosure process increased slightly in to 0.48% from 0.48% in September.
|Black Knight: Percent Loans Delinquent and in Foreclosure Process|
|Number of properties:|
|Number of properties that are delinquent, but not in foreclosure:||1,786,000||1,854,000||1,884,000||2,262,000|
|Number of properties in foreclosure pre-sale inventory:||255,000||252,000||267,000||348,000|
|Total Properties Delinquent or in foreclosure||2,041,000||2,106,000||2,152,000||2,610,000|
Posted by Calculated Risk on 11/25/2019 08:49:00 AM