Despite recent declines in interest rates, January's prepayment rate was the lowest since November 2000.

Seasonal reductions in home sales outweighed any early, rate-driven rise in refinance incentive, according to the “first look” data from Black Knight. Housing turnover typically bottoms out in January and February, so prepayments could pick up again if rates remain low through the early spring home-buying season

The national delinquency rate fell by 3.5 percent and is now 13 percent below last year's level. Foreclosure starts rose seasonally month-over-month but were down more than 19 percent year-over-year. The number of loans in active foreclosure continued its downward trend; there are now 265,000 active foreclosures, down 72,000 from one year ago.

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.75%
Month-over-month change: -3.45%
Year-over-year change: -12.93%

Total U.S. foreclosure pre-sale inventory rate: 0.51%
Month-over-month change: -2.20%
Year-over-year change: -22.43%

Total U.S. foreclosure starts: 50,200
Month-over-month change: 8.42%
Year-over-year change: -19.42%

Monthly prepayment rate (SMM): 0.59%
Month-over-month change: -10.15%
Year-over-year change: -25.20%

Foreclosure sales as % of 90+: 1.93%
Month-over-month change: 40.39%
Year-over-year change: 10.83%

Number of properties that are 30 or more days past due, but not in foreclosure: 1,945,000
Month-over-month change: -68,000
Year-over-year change: -257,000

Number of properties that are 90 or more days past due, but not in foreclosure: 504,000
Month-over-month change: -7,000
Year-over-year change: -203,000

Number of properties in foreclosure pre-sale inventory: 265,000
Month-over-month change: -6,000
Year-over-year change: -72,000

Number of properties that are 30 or more days past due or in foreclosure: 2,210,000
Month-over-month change: -73,000
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