• At 58,700, April 2016 saw the lowest number of foreclosure starts since April 2006According to Black Knight's First Look report for April, the percent of loans delinquent increased 3.8% in April compared to March, and declined 10.3% year-over-year.
• National delinquency rate is up from a 9-year low in March, but still 10 percent below last year’s level
• Prepayment speeds (historically a good indicator of refinance activity) fell in April, despite interest rates being near 3-year lows
• Active foreclosure inventory has now dropped below 600,000 for the first time since 2007
The percent of loans in the foreclosure process declined 5.9% in April and were down 27.8% 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 4.24% in April, up from 4.08% in Maarch.
The percent of loans in the foreclosure process declined in April 1.17%.
The number of delinquent properties, but not in foreclosure, is down 235,000 properties year-over-year, and the number of properties in the foreclosure process is down 225,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for April on June 6th.
| Black Knight: Percent Loans Delinquent and in Foreclosure Process | ||||
|---|---|---|---|---|
| Apr 2016 |
Mar 2016 |
Apr 2015 |
Apr 2014 |
|
| Delinquent | 4.24% | 4.08% | 4.72% | 5.59% |
| In Foreclosure | 1.17% | 1.25% | 1.63% | 2.11% |
| Number of properties: | ||||
| Number of properties that are delinquent, but not in foreclosure: | 2,146,000 | 2,062,000 | 2,381,000 | 2,813,000 |
| Number of properties in foreclosure pre-sale inventory: | 595,000 | 631,000 | 820,000 | 1,064,000 |
| Total Properties | 2,741,000 | 2,693,000 | 3,201,000 | 3,877,000 |
from
http://feedproxy.google.com/~r/CalculatedRisk/~3/VNu1dfY2EX8/black-knights-first-look-at-april.html
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