Black Knight’s Mortgage Monitor for the month of
October looks at current delinquency statistics and their potential downstream
effects on inventory and other housing concerns. The report seems to confirm
that homeowners, even those who sought forbearance protection during the
COVID-19 pandemic, seem to be performing well on their mortgage loans. The national mortgage delinquency rate was at 3.74
percent in October, down from a pandemic peak of over 8 percent in April 2020.
While there are still almost 700,000 more serious delinquencies, borrowers more
than 90 days past due, than before the onset of the pandemic, those numbers
fell by 127,000 or 10 percent during October as the first wave of forborne
homeowners reached the end of eligibility and returned to making payments.
Black Knight says further improvement is expected in coming weeks as borrowers
work through loss mitigation options as they exit the program.