Early Stage Delinquencies Trending Higher, Especially Among First-Time Buyers

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Posted To: MND NewsWire

While mortgage performance continues to be the best in many years , with the national delinquency rate down to 3.53 percent and record low foreclosure starts and completions, Black Knight’s September data shows a few disquieting numbers. The company’s Mortgage Monitor for the month shows that delinquency rate improvement has slowed, probably to be expected with the numbers so close to rock bottom. Still, when delinquency data from hurricane-impacted areas is excluded, the six-month average rate of decline has narrowed to less than 1 percent in recent months. The company says this suggests that, while performance remains strong, we may be nearing the trough in the national delinquency rate , if we haven’t already reached it. Possibly a little more unsettling, early-stage delinquencies among…(read more)

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