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Black Knight: Foreclosures hit six-year low

Delinquency rate down 10% since January

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BlackKnight Financial Services' latest report on the foreclosure inventory tracks closely with CoreLogic’s report out Thursday morning.

According to the Black Knight first look report, the number of loans in foreclosure is the lowest since November 2008, and the delinquency rate is down by more than 10% since last January.

The serious delinquency rate (90 days or more past due or in foreclosure) stood at 4.92%, the lowest in more than five years.

The average number of days delinquent loans were in foreclosure increased to 943 days.

Also in the report:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure):  6.27%
Month-over-month change in delinquency rate:    -2.96%
Year-over-year change in delinquency rate:      -10.70%
Total U.S. foreclosure pre-sale inventory rate: 2.35%
Month-over-month change in foreclosure pre-sale inventory rate: -5.32%
Year-over-year change in foreclosure pre-sale inventory rate:   -31.17 %
Number of properties that are 30 or more days past due, but not in foreclosure: 3,140,000
Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,289,000
Number of properties in foreclosure pre-sale inventory: 1,175,000
Number of properties that are 30 or more days delinquent or in foreclosure: 4,315,000

 

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