31
ยป VISIT US ONLINE @ DSNEWS.COM
BLACK KNIGHT:
DELINQUENCY RATE LOWEST
SINCE OCTOBER 2007
Delinquency and foreclosure rates have
declined to levels not seen since October 2007
and 2008, respectively, according to Black
Knight Financial Services' "First Look" at
March Mortgage Data. e company's Data
and Analytics division reported that the share
of loans in foreclosure was down nearly 37
percent year-over-year.
e company noted that it uses data
"derived from its loan-level database
representing approximately 70 percent of the
overall market."
e total U.S. delinquency rate, classified
as loans 30 or more days past due but not in
foreclosure, was 5.52 percent in March, a 7.57
percent decline from February.
Total foreclosure starts were down 4.24
percent from February, totaling 88,100.
March's figure represented a year-over-year
decline of 27.19 percent. Total foreclosure starts
in March were a seven-and-a-half-year low.
Pre-sale foreclosure inventory fell as well,
down 36.6 percent year-over-year and down
4.23 percent month-over-month to settle on
March's pre-sale foreclosure inventory figure
of 2.13 percent.
e company reported that the non-
current loan population dropped below 4
million for the first time since November 2007
to 3.8 million. e number of properties 30
or more days overdue was 2.7 million, down
200,000. Properties 90 days past due, but not
in foreclosure, were approximately 1.2 million,
a decline of 43,000 properties from February.
e five states with the highest percentage
of non-current loans were Mississippi (13.39
percent), New Jersey (12.93 percent), Florida
(12.1 percent), New York (11.09 percent), and
Maine (10.58 percent).
e five states with the highest percentage
of properties in serious delinquency (90-
plus days past due) were Mississippi (5.28
percent), Nevada (4.06 percent), Rhode Island
(3.78 percent), Alabama (3.55 percent), and
Massachusetts (3.49 percent).
The median existing
single-family home price
increased in 74 percent
of measured markets,
according to the National
Association of Realtors.
KNOW THIS
