by Calculated Risk on 1/22/2020 12:59:00 PM
Wednesday, January 22, 2020
• Mortgage delinquencies fell by nearly 4% month-over-month to within 0.04% of the record low set in May 2019 and more than 12% below last year’s levelAccording to Black Knight's First Look report for December, the percent of loans delinquent decreased in December compared to November, and decreased 12.4% year-over-year.
• The national foreclosure rate fell again in December to reach a new 14-year low, and the lowest on record outside the final five months of 2005
• 2019 ended with just over two million borrowers past due on their mortgage (including active foreclosures) – down 236,000 from the same time last year and the lowest year-end volume since the turn of the century
• After falling by 19% in November, prepayment rates ticked upward in December, suggesting that the recent leveling off of interest rates has had a flattening effect on refinance activity
The percent of loans in the foreclosure process decreased 1.6% in December and were down 11.6% 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 3.40% in December, down from 3.53% in November.
The percent of loans in the foreclosure process decreased to 0.46% from 0.47% in November.
|Black Knight: Percent Loans Delinquent and in Foreclosure Process|
|Number of properties:|
|Number of properties that are delinquent, but not in foreclosure:||1,803,000||1,868,000||2,013,000||2,412,000|
|Number of properties in foreclosure pre-sale inventory:||245,000||248,000||271,000||331,000|
|Total Properties Delinquent or in foreclosure||2,047,000||2,116,000||2,283,000||2,743,000|
Posted by Calculated Risk on 1/22/2020 12:59:00 PM