Delinquency rate plummets to 11-year low

by Anna Sobrevinas24 Apr 2017
March saw a decline in delinquency rates to 3.62%, the lowest level in 11 years, according to Black Knight Financial Services.

Month-over-month, delinquencies fell by 14% while year-over-year, the rate dropped by 11.40%.

Total non-current inventory also hit its lowest point in 11 years by dropping below 2.3 million.

Below are lists of states and their standing in non-current percentage:

Top 5 States by Non-Current Percentage

Mississippi: 9.70%
Louisiana: 8.46%
Alabama: 6.87%
New Jersey: 6.64%
West Virginia: 6.56%

Bottom 5 States by Non-Current Percentage

Idaho: 2.63%
Montana: 2.57%
Minnesota: 2.36%
North Dakota: 2.09%
Colorado: 2.06%

Top 5 States by 6-Month Improvement in Non-Current Percentage

New Jersey: -18.27%
Louisiana: -18.01%
Washington: -17.69%
Nebraska: -17.25%
Michigan: -17.12%

Top 5 States by 6-Month Deterioration in Non-Current Percentage

North Dakota: -6.33%
Hawaii: -9.43%
Alaska: -9.83%
South Dakota: -9.90%
Maine: -10.41%

Meanwhile, foreclosure starts rose by 4.15%, but the first quarter’s 189,000 starts still declined by 18% compared with the same quarter last year.

The total foreclosure pre-sale inventory rate was 0.88%; month-over-month, it declined by 4.60% and also saw an annual decline of 29.15%.

 

Related stories:
Delinquent mortgages on the decline – CoreLogic
Mortgage delinquency rises in last three months of 2016 – survey

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