Home / Market Trends / Affordability / Seriously Delinquent Loans Fall to Levels Last Reported in 2006
Print This Post Print This Post

Seriously Delinquent Loans Fall to Levels Last Reported in 2006

Black Knight, Inc. Has released its “First Look” at June’s month-end data and mortgage performance statistics derived from its database representing the majority of the national mortgage market. 

According to the survey, the national delinquency rate inched up two percentage points from May and continues to hover near record levels, which is the third lowest rate on record. 

The number of serious delinquencies (90-days or more past due) dropped to 471,000 units, the lowest since August 2006, and a 177,000 drunk, or 27%, year-over-year. 

Early-stage delinquencies (loans 30-days late) rose by 2.2% or 19,000 loans. Foreclosure starts also increased slightly to 28,000 for the month, just 1% above the preceding 12-month period but still 38% below numbers reported in June 2019. 

By the numbers: 

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.12% 

Month-over-month change: 0.55% 

Year-over-year change: -2.80% 

  

Total U.S. foreclosure pre-sale inventory rate: 0.42% 

Month-over-month change: -2.51% 

Year-over-year change: -3.63% 

  

Total U.S. foreclosure starts: 28,000 

Month-over-month change: 10.31% 

Year-over-year change: -11.25% 

  

Monthly prepayment rate (SMM): 0.57% 

Month-over-month change: 4.46% 

Year-over-year change: -32.55% 

  

Foreclosure sales: 6,900 

Month-over-month change: 1.45% 

Year-over-year change: 14.04% 

  

Number of properties that are 30 or more days past due, but not in foreclosure: 1,650,000 

Month-over-month change: 11,000 

Year-over-year change: -24,000 

  

Number of properties that are 90 or more days past due, but not in foreclosure: 471,000 

Month-over-month change: -13,000 

Year-over-year change: -177,000 

  

Number of properties in foreclosure pre-sale inventory: 224,000 

Month-over-month change: -5,000 

Year-over-year change: -5,000 

  

Number of properties that are 30 or more days past due or in foreclosure: 1,874,000 

Month-over-month change: 6,000 

Year-over-year change: -29,000 

  

Top 5 States by Non-Current Percentage 

Mississippi: 7.40 % 

Louisiana: 6.84 % 

Alabama: 5.31 % 

Pennsylvania: 4.85 % 

West Virginia: 4.84 % 

  

  

Bottom 5 States by Non-Current Percentage: 

Montana: 2.15 % 

Oregon: 2.10 % 

Idaho: 2.03 % 

Colorado: 1.94 % 

Washington: 1.94 % 

  

Top 5 States by 90+ Days Delinquent Percentage: 

Mississippi: 2.17 % 

Louisiana: 1.76 % 

Alabama: 1.52 % 

Arkansas: 1.33 % 

Georgia: 1.22 % 

  

Top 5 States by 12-Month Change in Non-Current Percentage: 

Alaska: -23.96 % 

Vermont: -13.43 % 

Connecticut: -13.31 % 

North Dakota: -12.22 % 

New Mexico: -11.65 % 

  

Bottom 5 States by 12-Month Change in Non-Current Percentage: 

Idaho: 15.17 % 

Utah: 6.10 % 

Arizona: 4.91 % 

Delaware: 2.99 % 

Michigan: 2.66 % 

About Author: Kyle G. Horst

Kyle G. Horst is a reporter for DS News and MReport. A graduate of the University of Texas at Tyler, he has worked for a number of daily, weekly, and monthly publications in South Dakota and Texas. With more than 10 years of experience in community journalism, he has won a number of state, national, and international awards for his writing and photography including best newspaper design by the Associated Press Managing Editors Group and the international iPhone photographer of the year by the iPhone Photography Awards. He most recently worked as editor of Community Impact Newspaper covering a number of Dallas-Ft. Worth communities on a hyperlocal level. Contact Kyle G. at [email protected].
x

Check Also

Many Americans Aren’t Optimistic About 2024’s Housing Market

While the housing market remains unpredictable, a surprising percentage of surveyed Americans report wanting it to crash in 2024, according to a new LendingTree study, as many believe that might be the only way they could afford a home.