According to Black Knight’s First Look report for December, the percent of loans delinquent decreased 7% in December compared to November, and declined 13% year-over-year.
The percent of loans in the foreclosure process declined further in December and were down about 35% over the last year.
Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 5.64% in December, down from 6.08% in November. The normal rate for delinquencies is around 4.5% to 5%.
The percent of loans in the foreclosure process declined to 1.61% in December from 1.63% in November.
The number of delinquent properties, but not in foreclosure, is down 375,000 properties year-over-year, and the number of properties in the foreclosure process is down 424,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for December in early February.
| Black Knight: Percent Loans Delinquent and in Foreclosure Process | ||||
|---|---|---|---|---|
| Dec 2014 |
Nov 2014 |
Dec 2013 |
Dec 2012 |
|
| Delinquent | 5.64% | 6.08% | 6.47% | 7.17% |
| In Foreclosure | 1.61% | 1.63% | 2.48% | 3.44% |
| Number of properties: | ||||
| Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure: | 1,736,000 | 1,925,000 | 1,964,000 | 2,031,000 |
| Number of properties that are 90 or more days delinquent, but not in foreclosure: | 1,132,000 | 1,163,000 | 1,280,000 | 1,545,000 |
| Number of properties in foreclosure pre-sale inventory: | 820,000 | 829,000 | 1,244,000 | 1,716,000 |
| Total Properties | 3,688,000 | 3,917,000 | 4,488,000 | 5,292,000 |