Tag Archives: Black Knight

Alongside rising interest rates, the average equity withdrawal among cash-out refinances has also risen by nearly 90% from its low in 2020.

Click through for the latest updates on mortgage performance data, including breakdowns of the national delinquency rate, foreclosure inventory, and more.

According to Black Knight, the number of serious delinquencies (90-days or more past due) dropped to 471,000 units, the lowest reported since August 2006, a 27% year-over-year drop.

Black Knight reports that during the month of May, past-due mortgages approached recent record lows as the number of borrowers a single payment past due improved by 94,000.

Early-stage delinquencies (borrowers 30 days late) bore the brunt of the rise, increasing by 200K (+25%), which matches the impact of previous similar calendar-related events.

The rate ticked down 53 basis points to end March at its lowest level ever.

During the pandemic, an estimated 3.2 million foreclosure starts were prevented, along with the completion of approximately 1.5 million foreclosures.

January performance data decreased by 10-basis points in the national delinquency rate over December.

According to Black Knight, mortgage delinquencies were up seven basis points month-over-month but down 9% year-over-year. Also, prepayments fell for the third straight month.

However, November’s total of starts still trails highs seen in June 2022 and remain well below pre-pandemic levels.