The national delinquency rate in June took an 11 percent upswing from May all-time low, according to data released by Black Knight Inc.
But while the overall non-current inventory shot up during June, the rate for serious delinquencies–defined as loans 90 or more days past due but not yet in active foreclosure–plummeted to their lowest level in 12 years. Both foreclosure starts and the number of loans in active foreclosure recorded a mild increase from May to June, but were down on an annual basis.
Black Knight also noted prepayment activity dropped 7.5 percent from May to June, the first decline in five months. This occurred despite increased refinance incentive from lower interest rates, Black Knight added.