According to the preliminary release, the national delinquency rate fell to 3.91% in September, down 2.3% from August. This is the first time delinquency rates have been below 4% in the last 18 months.
Black Knight said that this would have been a stronger improvement but was partially offset by delinquencies rising by 7,800 in FEMA-declared disaster areas in hurricane-impacted Louisiana and by 11,000 in the state as a whole.
Foreclosure starts also plummeted 45.07% in September after seeing a noticeable rise in August in the wake of the federal foreclosure moratoria expiration. There was a total of 3,900 foreclosure starts in September, down 13.33% year-over-year. This was the third lowest monthly total on record and within 6% of the record low set back in April of this year
In other first-look data:
- The number of properties that are more than 30 days past-due, but are not in foreclosure, are 2,068,000 which is down 54,000 from August and down 1,474,000 from last year.
- The number of properties that are more than 90 or more days past due, but are not in foreclosure, are 1,233,000 which is down 106,000 from last month and down 1,090,000 from last year.
- The number of properties that are more than 30 days past-due or are in foreclosure stands at 2,203,000. This is down 61,000 from last month and down 1,519,000 from last year.
- The number of properties in foreclosure pre-sale inventory stood at 135,000, down 7,000 units from August and down 46,000 units from last year.