The percentage of delinquent loans was down 12% in March compared to February, and down 15% year over year, according to Black Knight’s First Look report. The report showed the national delinquency rate at 4.7% in March, down from 5.36% in February. March posted the lowest level of delinquencies since August of 2007.
The number of delinquent properties not in foreclosure dropped by 390,000 year over year, and the number of properties in foreclosure is down 288,000, according to the report.
The percentage of loans in foreclosure was down 2% month over month in March, and down by about 27% year over year.
Mortgage loan delinquencies in March hit their lowest levels since 2007, according to data released Friday.