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While early-stage delinquencies have dipped, Black Knight's early first-look data for August 2020 reported an increase in serious delinquencies. The report revealed there was a 5% increase in serious delinquencies, marking the fifth consecutive month of increases.
The silver lining from the report is August's increase was the mildest of the five months, which could signal that serious delinquencies may be nearing its peak.
Additionally, the report states that while there are nearly two million more seriously delinquent homeowners than pre-pandemic levels, foreclosure activity is still muted thanks to active forbearance plans and forclosure moratoriums.
Click here to learn more from Black Knight's first look at August 2020.