Black Knight: Delinquency Rate Entering 2019 Lowest Since Turn of the Century

Okay Baby Boomers: remember when “turn of the century” meant 1900?

Black Knight, Jacksonville, Fla., reported as of December, just 3.9 percent of mortgages were delinquent, the lowest year-end total since the turn of the century.

That’s 2000. (Feeling old yet?)

Black Knight also reported the national foreclosure rate, while edging seasonally upward in December, posted the lowest year-end figure since 2005, with just 0.52 percent of mortgages in active foreclosure. Foreclosure starts edged slightly upward with 46,300 starts reported for the month, a 2.4 percent uptick over November.

The report also reported foreclosure starts were also up 4 percent year-over-year in December, though this increase was primarily driven by suppressed foreclosure start volumes in late 2017 due to hurricane-related moratoriums. Prepayments remained nearly unchanged in December, holding near the 10-year low set in November.

Other report data:

–December U.S. loan delinquency rate: 3.88 percent, up by 4.71 percent from November but down by 17.55 percent from a year ago.

–December foreclosure pre-sale inventory rate: 0.52 percent, up by 1.19 percent from November but down by 19.23 percent from a year ago.

–December foreclosure starts: 46,300, up by 2.43 percent from November and up by 4.04 percent from a year ago.

–Properties 30 or more days past due but not in foreclosure: 2.013 million, up by 88,000 from November but down by 399,000 from a year ago.

–Properties 90 or more days past due, but not in foreclosure: 511,000, up by 1,000 from November but down by 215,000 from a year ago.

–Properties in foreclosure pre-sale inventory: 271,000, up by 3,000 from November but down by 60,000 from a year ago.

–Properties 30 or more days past due or in foreclosure: 2.283 million, up by 90,000 from November but down by 460,000 from a year ago.

–States with highest percentage of non-current loans: Mississippi (10.09 percent), Louisiana (8.13 percent), Alabama (6.95 percent), West Virginia (6.69 percent) and Arkansas (6.29 percent).

–States with lowest percentage of non-current loans: Colorado (1.90 percent), Oregon (2.12 percent), Washington (2.28 percent), Idaho (2.32 percent) and North Dakota (2.46 percent).