Black Knight, in its “first look” at the month’s loan
data, says that mortgage delinquencies improved for the fifth consecutive month
in October. The national delinquency rate fell another 3.3 percent from
September to 6.44 percent, the lowest rate since last March. There were 3.437
million mortgages nationwide that were 30 or more days past due but not in
foreclosure in October, down 105,000 loans in a month. Despite the five months of improvement, however, the
national delinquency rate is 90 percent higher than in October 2019
, and the
number of loans in the 30-day delinquency bucket is 1.651 million larger
year-over-year. Black Knight’s delinquent loan totals include those in active
forbearance plans.

 

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