Black Knight: U.S. Mortgage Delinquency Rate Lowest on Record

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The U.S. mortgage delinquency rate in January dropped to the lowest level on record, falling to 3.22% – a decrease of 5.37% compared with December 2019 and down 14.17% compared with January 2019, according to Black Knight’s First Look report.

There are now fewer than 2 million homeowners past due on their mortgages or in active foreclosure, the fewest since March 2005, according to the software, data and analytics firm.

As of the end of January about 1.705 million mortgages were 30 days or more past due, a decrease of about 98,000 compared with the previous month and down about 240,000 compared with a year earlier.

Serious delinquencies (90 days or more past due) stood at about 419,000, down about 8,000 compared with December 2019 and down about 85,000 compared with January 2019.

The foreclosure pre-sale inventory rate was 0.46%, up about 0.41% compared with the previous month but down 9.24% compared with a year earlier.

As of the end of the month there were about 246,000 homes in the foreclosure inventory, an increase of about 1,000 compared with December 2019 but down about 19,000 compared with January 2019.

Foreclosure starts hit 42,800 for the month, an increase of 8.35% compared with the previous month but down 14.74% compared with a year earlier.

The monthly pre-payment rate was at 1.26%, down 15.33% compared with December 2019, but up 112.97% compared with January 2019.

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