Skip to main content

Mortgage Delinquency Rate Below 6 Percent For The First Time In Nearly A Year

Navi Persaud
Feb 24, 2021
Photo credit: Getty Images/Ekaterina79

The national mortgage delinquency rate decreased to 5.9% in January, according to Black Knight, Inc.'s first look at January 2021 month-end mortgage performance statistics. This marks the first time the national mortgage delinquency rate fell below 6% since March 2020.

The report revealed that the total U.S. loan delinquency rate for loans that were 30 or more days past due, but not in foreclosure was 5.85%. This marks a 3.82% decline month-over-month and an 81.84% year-over-year change. Black Knight also reported that the total U.S. foreclosure pre-sale inventory rate was 0.32%, down 3.92% month-over-month and down 30.89% year-over-year.

Despite the improvement in mortgage delinquencies, Black Knight still reports that some 2.1 million homeowners remain 90 days or more past due but are not yet in foreclosure. While forbearance and foreclosure moratoriums have helped improve delinquency numbers, the company believes that it could pose a hindrance to the length of the recovery period.

"At the current rate of improvement, 1.8 million mortgages will still be seriously delinquent at the end of June when foreclosure moratoriums on government-backed loans are currently slated to lift," according to Black Knight.

"With widespread moratoriums still in place, both foreclosure starts and sales (completions) remained near record lows in January."

Click here to learn more from Black Knight's first look report for January 2021.

Feb 24, 2021
Guild Mortgage Acquires Cherry Creek Mortgage

Terms of purchase not disclosed; reverse mortgage volume added to Guild.

Mar 14, 2023
Vigilance, Dedication, And Commitment Forge Legends

Submit a nomination for Mortgage Banker Magazine’s Legends of Lending.

Mar 10, 2023
FTC Moves To Block Black Knight, ICE Merger

Says it 'would drive up costs, reduce innovation, and reduce lenders’ choices.'

Mar 09, 2023
Rocket Arms Brokers With Bully Shield Vs. UWM

Rocket covers penalties and court fees for brokers who want to get out of United Wholesale Mortgage’s ultimatum contract. 

Feb 06, 2023
Top Texas Originator Sees No Surrender To 2023

Big cities will determine the battle

Jan 26, 2023
There’s Good & Bad News On The Horizon

There will be a real estate slump, but the big cities are coming out much better

Jan 26, 2023