On Monday, Black Knight will be releasing its latest Mortgage Monitor report, featuring mortgage price and performance data from December 2019. According to Black Knight’s [1] First Look at December 2019 data, Southern states including Mississippi, Louisiana, Alabama, and Arkansas held some of the largest volumes of non-current loans in the country. As of December 2019, Mississippi holds the highest volume at 9.99%, though this is a month-over-month decline from November’s 10.44%, and a 0.93% decline year-over-year.
All top five states in non-current percentages have seen marked declines over the year, with the biggest decline in Louisiana, where the non-current percentage fell by 6.81% from December 2018.
The lowest non-current percentages, meanwhile, remain concentrated on and around the East Coast, with Colorado still holding the lowest rate at 1.74%, down from November’s rate of 1.81%. Behind Colorado falls Washington (1.77%), Oregon (1.84%), Idaho (1.91%), and California (2.01%).
As non-current loans have fallen across the country, default notices, scheduled auctions and bank repossessions as foreclosure filings fell too. According to the Year-End 2019 U.S. Foreclosure Market Report from ATTOM Data Solutions [2], foreclosure actions were down 21% from 2018 and down 83% from a peak of nearly 2.9 million in 2010.
Here's what else is happening in The Week Ahead:
- Primary Mortgage Market Survey (Feb. 6)
- Construction Spending (Feb. 3)
- Unemployment Rates (Feb. 7)