Investments

Black Knight: Delinquency rate jumps almost 5% to highest since February

Foreclosures decline for first time in five months

foreclosure sign

The mortgage delinquency rate jumped nearly 5% in August, reaching its highest point since February, the Data and Analytics division of Black Knight Financial Services reported in its “first look” at August 2014.

The Black Knight report of month-end mortgage performance statistics is derived from its loan-level database representing approximately two-thirds of the overall market.

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Graphic: Black Knight

The delinquent inventory increased by 146,000 from July and the majority are early-stage delinquencies.

Foreclosure starts declined for first time in five months; down 10% from July and 24% year-over-year.

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Graphic: Black Knight

At 913,000, the foreclosure inventory count is the lowest since March 2008.

The prepayment rate dropped more than 8% after five consecutive monthly increases..

Of note, the average loan in foreclosure has now been past due for 1,010 days. 

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