While the national delinquency rate rose 4% from April to 4.96%, it’s still down nearly 12% from last year, Black Knight’s May First Look report said.

Also, aside from the last two months, the national delinquency rate is still the lowest it’s been since the summer of 2007.

Furthermore, non-current inventory increased 89,000 in May for a total of 3.3 million. This is down 537,000 loans from one year ago.

May’s 81,900 foreclosure starts marked an 11% increase from April.

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Source: Black Knight