Black Knight Says Delinquency Rate Up 1.5%
According to the latest Mortgage Monitor from Black Knight, the delinquency rate rose 1.5% in May coming in at 4.73%. However serious delinquencies were down 99k – marking 9 straights months of improvement. In addition they report that the national foreclosure rate came in at 2.5%.
“Though we’ve now seen serious delinquencies improve for the ninth consecutive month, there are still nearly 1.3M – more than 4X as many – as there were prior to the pandemic.”