July Delinquency Rate Lowest in Almost 20 Years

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Posted To: MND NewsWire

Black Knight said on Thursday that the national delinquency rate fell back by 7.27 percent in July , erasing last month’s increase that was caused in party by the calendar. The new rate, 3.46 percent of all active mortgages, is the lowest of any July in the company’s records that date back to 2000. That information was included in Black Knight’s “first look” at July’s loan performance metrics most of which show continuing improvement in mortgage loan delinquencies. The number of mortgages that were 30 or more days past due during the month, excluding those in foreclosure, was 1.8 million, a decrease of 143,000 since June. The end of that month fell on a Sunday which Black Knight says typically causes a spike in delinquencies as late arriving payments don’t get posted. The number of delinquencies…(read more)

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