Past-Due Mortgages Down; Serious Delinquencies Rise

Black Knight Inc.'s July 2020 month-end mortgage performance statistics reported a 9% decline in mortgage delinquencies for July 2020, compared with June. According to the report, early-stage delinquencies are now below pre-pandemic levels, pointing to a lull in COVID-19-related delinquencies. 

 

However, the report also revealed that serious delinquencies, loans that are 90 or more days past due, increased by 376,000, bringing the total above 1.8 million from pre-pandemic levels. 

 

Luckily for homeowners, foreclosure activity remains muted due to nationwide moratoriums and Black Knight points out that while starts increase for the month, overall activity is still near record lows. 

 

Read more from Black Knight's July 2020 mortgage data.