Despite rising seasonally in recent months, only 3.9 percent of mortgages were delinquent as of December month-end, the lowest year-end total since Black Knight began reporting the figure in 2000.
The national foreclosure rate, while also edging seasonally upward in December, posted the lowest year-end figure since 2005, with just 0.52 percent of mortgages in active foreclosure, according to “The First Look Report” from Black Knight.
However, foreclosure starts edged slightly upward with 46,300 starts reported for the month, a 2.4 percent uptick compared with the previous month.
Foreclosure starts were up 4 percent in December 2018 compared to the same period a year earlier, because of a hurricane-related moratorium on foreclosure starts in late 2017. Prepayments remained nearly unchanged in December, holding near the 10-year low set in November
Additional takeaways from the report are as follows:
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.88%
Month-over-month change: 4.71%
Year-over-year change: -17.55%
Total U.S. foreclosure pre-sale inventory rate: 0.52%
Month-over-month change: 1.19%
Year-over-year change: -19.23%
Total U.S. foreclosure starts: 46,300
Month-over-month change: 2.43%
Year-over-year change: 4.04%
Monthly prepayment rate (SMM): 0.66%
Month-over-month change: 0.03%
Year-over-year change: -29.02%
Foreclosure sales as % of 90+: 1.38%
Month-over-month change: -22.47%
Year-over-year change: 12.29%
Number of properties that are 30 or more days past due, but not in foreclosure: 2,013,000
Month-over-month change: 88,000
Year-over-year change: -399,000
Number of properties that are 90 or more days past due, but not in foreclosure: 511,000
Month-over-month change: 1,000
Year-over-year change: -215,000
Number of properties in foreclosure pre-sale inventory: 271,000
Month-over-month change: 3,000
Year-over-year change: -60,000
Number of properties that are 30 or more days past due or in foreclosure: 2,283,000
Month-over-month change: 90,000
Year-over-year change: -460,000
