Mortgage Delinquencies Decline in October
November 27, 2018
Mortgage delinquencies dropped by 8.2 percent in October from September and are down by nearly 18 percent from last year, according to new data from Black Knight Inc.
Serious delinquencies fell by 14,000 from September to October to reach 499,000; on a year-over-year basis, the number of serious delinquencies was down by 90,000. Last month’s number of serious delinquencies was a 12-year low.
Black Knight also noted that although foreclosure starts seeing a monthly increase from September’s nearly 18-year low, the number of loans in active foreclosure fell slightly from September and has decreased by 24 percent from last year. And while prepayment activity was up 14 percent from September to October, it is 29 percent below last year’s level.
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