Mortgage Industry News
« Return to Mortgage Industry News
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.
Read Full Article