Latest News

Black Knight: Mortgage Delinquency Rate decreased in September


From Black Knight: Black Knight: September Prepayments at More Than 20-Year Low on Spiking Interest Rates; Foreclosure Starts Fall 9% from August, Remain 53% Below Pre-Pandemic Levels
• Prepayment activity dropped -14.9% to a single-month mortality (SMM) rate of 0.57% in September – below the recent record of 0.59% set in January 2019 – to the lowest level since November 2000

• The national delinquency rate inched down -0.2% from August to 2.78%, just 3 basis points above the record low set in May 2022, with the number of past-due mortgages holding relatively steady across the board

• The number of borrowers a single payment past due rose by 1%, while 90-day delinquencies fell -1.5 % in September and are now only 24% above the pre-pandemic serious delinquency rate

• Foreclosure starts fell 9% from August to 18,400 – 53% below pre-pandemic levels – with starts initiated on 3% of serious delinquencies, still less than half the rate of the years leading up to the pandemic

• Active foreclosure inventory held steady in the month at volumes that have remained subdued in early 2022 after the record lows of 2021 due to widespread moratoriums and forbearance protections

• Prepays (SMM) edged up 1.5% for the month, due to calendar-related effects, but are still down by 69% year-over-year as rising rates continue to put downward pressure on both purchase and refinance lending
emphasis addedAccording to Black Knight’s First Look report, the percent of loans delinquent decreased 0.2% in September compared to August and decreased 29% year-over-year.

Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 2.78% in September, down from 2.79% in August.

The percent of loans in the foreclosure process was unchanged in September at 0.35%, from 0.35% in August. 
The number of delinquent properties, but not in foreclosure, is down 577,000 properties year-over-year, and the number of properties in the foreclosure process is up 50,000 properties year-over-year.

Black Knight: Percent Loans Delinquent and in Foreclosure Process  Sept
2020Delinquent2.78%2.79%3.91%6.66%In Foreclosure0.35%0.35%0.26%0.34%Number of properties:Number of properties
that are delinquent,
but not in foreclosure:1,491,0001,489,0002,068,0003,542,000Number of properties
in foreclosure
pre-sale inventory:185,000185,000135,000181,000Total Properties1,677,0001,674,0002,203,0003,722,000

Hotels: Occupancy Rate Down 2.7% Compared to Same Week in 2019

Previous article

Q3 GDP Tracking: In 2% Range

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News