Mortgage

Black Knight: Delinquency rate rises for 2nd month to 4.9%

But foreclosure starts are down 16.25% since September 2014

The “first look” at September 2015 month-end mortgage performance statistics derived from Black Knight Financial Services’ loan-level database representing the majority of the national mortgage market.

Here’s the breakdown. The national delinquency rate rose for the second consecutive month in September, and now sits at 4.9%, which is the highest it's been since May of this year.

While delinquencies were up 1.7% in September, they were still 14% below where they were last year.

Overall non-current inventory — all loans 30 or more days past due or in foreclosure — is now at 3.2 million. 

Despite the rise in the delinquency rate, 90-day delinquent and foreclosure inventories continue to improve. 

Prepayment activity, which is historically a good indicator of refinance activity, continues to slow. It fell by just under 1.75% to a single month mortality rate of 1.07% in September.

Here are some other highlights:

Total U.S. foreclosure pre-sale inventory rate:​ 1.46%

  • Month-over-month change: -1.53%
  • Year-over-year change: -22.64%
     

Total U.S. foreclosure starts: 79,900

  • Month-over-month change: 4.86%
  • Year-over-year change: -16.25%

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