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Closer Look at Delinquency Surge and Much More -Mortgage Monitor

Tuesday, January 13, 2015

In its "first look" at November mortgage data last week Black Knight Financial Services noted a significant surge in mortgage delinquencies compared to the previous month.  The 11.8 percent jump in mortgages that were 30 or more days past due brought the national delinquency rate to 6.08 percent, the first time since February it had surpassed 6.0 percent, and was the largest month-over-month increase since 2008, a spike that also occurred in November.

In the newest edition of its Mortgage Monitor Black Knight takes a closer look at the November anomaly, one that occurred even as the overall delinquency rate has continued to trend downward and despite the increase was 6 percent below its level a year earlier.  According to the Monitor, a sudden rise in the delinquency rate in November is more rule than exception and, while this was the largest, increases have occurred in six of the last seven Novembers.

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