The percent of loans in the foreclosure process declined 2% in March and were down about 27% 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 4.70% in March, down from 5.36% in February. This is the lowest level of delinquencies since August 2007.
The percent of loans in the foreclosure process declined in March to 1.55%. This was the lowest level of foreclosure inventory since December 2007.
The number of delinquent properties, but not in foreclosure, is down 390,000 properties year-over-year, and the number of properties in the foreclosure process is down 288,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for March in early May.
Black Knight: Percent Loans Delinquent and in Foreclosure Process | ||||
---|---|---|---|---|
Mar 2015 | Feb 2015 | Mar 2014 | Mar 2013 | |
Delinquent | 4.70% | 5.36% | 5.52% | 6.59% |
In Foreclosure | 1.55% | 1.58% | 2.13% | 3.38% |
Number of properties: | ||||
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure: | 1,409,000 | 1,646,000 | 1,571,000 | 1,842,000 |
Number of properties that are 90 or more days delinquent, but not in foreclosure: | 971,000 | 1,067,000 | 1,199,000 | 1,466,000 |
Number of properties in foreclosure pre-sale inventory: | 782,000 | 800,000 | 1,070,000 | 1,689,000 |
Total Properties | 3,162,000 | 3,512,000 | 3,840,000 | 4,997,000 |
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