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A First Look at July Performance Data

Friday, August 21, 2015

Black Knight Financial Services released its "First Look" at its July loan level performance data which continues to show a decline in most measures of mortgage distress.  Delinquencies, foreclosure starts, and the foreclosure inventory all declined for the month although actual foreclosures did increase.  The monthly prepayment rate also fell; this metric is closely tied to the incidence of refinancing.

The national delinquency rate, loans 30 or more days past due but not in foreclosure, stood at 4.71 percent in July, a 2.22 percent decline from June and down 16.46 percent year-over-year.  The number of delinquent mortgages numbered 2.39 million, down 55,000 from the previous month and 460,000 from July 2014.

 

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