• Foreclosure inventory now below 575,000 from over 800,000 just 12 months agoAccording to Black Knight's First Look report for May, the percent of loans delinquent increased 0.4% in May compared to April, and declined 13.5% year-over-year.
• Foreclosure starts up from 10-year low in April, but at 62,100 remain below pre-crisis levels
• Prepayment speeds (historically a good indicator of refinance activity) continue to trail 2015 levels despite interest rates being lower than last year
• Delinquencies inched up in May; still down by over 13 percent on an annual basis
The percent of loans in the foreclosure process declined 3.6% in May and were down 28.8% over the last year.
Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 4.25% in May, up from 4.24% in April.
The percent of loans in the foreclosure process declined in May to 1.13%.
The number of delinquent properties, but not in foreclosure, is down 325,000 properties year-over-year, and the number of properties in the foreclosure process is down 229,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for May by July 11th.
| Black Knight: Percent Loans Delinquent and in Foreclosure Process | ||||
|---|---|---|---|---|
| May 2016 |
Apr 2016 |
May 2015 |
May 2014 |
|
| Delinquent | 4.25% | 4.24% | 4.91% | 5.63% |
| In Foreclosure | 1.13% | 1.17% | 1.59% | 2.03% |
| Number of properties: | ||||
| Number of properties that are delinquent, but not in foreclosure: | 2,153,000 | 2,146,000 | 2,478,000 | 2,836,000 |
| Number of properties in foreclosure pre-sale inventory: | 574,000 | 595,000 | 803,000 | 1,022,000 |
| Total Properties | 2,727,000 | 2,741,000 | 3,280,000 | 3,857,000 |
from
http://feedproxy.google.com/~r/CalculatedRisk/~3/qkKLbkp_Z7k/black-knights-first-look-at-may.html
No comments:
Post a Comment