Delinquencies Increase, But Still Down on the Year

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Posted To: MND NewsWire

Mortgage performance, usually at its best in February and March, because it is assumed that tax refunds allow people to catch up on financial obligations. But, with data in on February, Black Knight says this year may be an exception to that rule. In its First Look at the month’s numbers the company says loan delinquencies rose in February for the first time in 12 years. There were 74,000 more loans that were 30 or more days past due than in January, an increase of 3.7 percent. Even with that spike, there were still 9.5 percent or 179,000 fewer delinquencies than in February 2018. At the end of the month 2.02 million loans nationwide were delinquent but not in foreclosure, a rate of 3.89 percent. Other performance measures continued to improve. Serious delinquencies, loans 90 or more days past…(read more)

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