National Loan Delinquency Rate Down 6.9% from 2018
Black Knight’s “first look” report for October, 2019 says that there were just under 44k foreclosure starts, with the National delinquency rate falling to 3.39% in October, a nearly 7% decline from 2018. In addition, they also reported that serious delinquencies fell by 10k from September, while the number of loans in active foreclosure edged up slightly. Prepayment activity climbed another 16% in October (the highest level since May 2013) and are now up 134% year-over-year as refinancing homeowners continue to take advantage of low interest rates. Black Knight derives its data from their loan-level database representing the majority of the national mortgage market.
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