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Delinquencies at 11 Month High

Tuesday, February 23, 2016

Mortgage delinquencies rose in January, topping the 5 percent mark for the first time in 11 months Black Knight Financial Services said on Monday.  The rate, at 5.09 percent, represented a 6.62 percent increaseMortgage delinquencies rose in January, topping the 5 percent mark for the first time in 11 months Black Knight Financial Services said on Monday.  The rate, at 5.09 percent, represented a 6.62 percent increase from the previous month although the rate is still 7.10 percent below its level in January 2015. 

Mortgage loans that were 30 or more days past due numbered 2.58 million in January, an increase of 167,000 month-over-month but down 189,000 from a year earlier.  There were 831,000 seriously delinquent loans, that is loans 90 or more days past due but not yet in foreclosure.  That was also an increase from December, up 23,000, but 239,000 loans fewer than in January 2015.

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