by Calculated Risk on 3/23/2020 11:05:00 AM
Monday, March 23, 2020
• Foreclosure starts fell 25% from January 2020, and 20% from the year prior, hitting their lowest level on record since Black Knight began publicly reporting the metric in January 2000According to Black Knight's First Look report for February, the percent of loans delinquent increased 2.0% in February compared to January, and decreased 15.6% year-over-year.
• The national foreclosure rate also ticked lower in February, falling to 0.45%; the lowest it’s been since 2005, and within one basis point of an all-time low
• Delinquencies were up slightly from January, but remain more than 15% below last year’s levels
• Prepayment activity rose by nearly 8% month-over-month as early 2020 rate declines have begun to impact refinance activity
The percent of loans in the foreclosure process decreased 2.5% in February, and were down 11.2% 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 3.28% in February, up from 3.22% in January.
The percent of loans in the foreclosure process was decreased to 0.456% from 0.46% in January.
|Black Knight: Percent Loans Delinquent and in Foreclosure Process|
|Number of properties:|
|Number of properties that are delinquent, but not in foreclosure:||1,737,000||1,705,000||2,019,000||2,198,000|
|Number of properties in foreclosure pre-sale inventory:||239,000||246,000||264,000||331,000|
|Total Properties Delinquent or in foreclosure||1,976,000||1,951,000||2,284,000||2,528,000|
Posted by Calculated Risk on 3/23/2020 11:05:00 AM