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 %