“first look” at loan performance data in March brought back memories of an old
TV ad, “Is it real or is it Memorex?” The company said that mortgage
delinquencies were down during the month by a whopping 16.4 percent. The company
is quick to note that the apparent improvement is probably not indicative of a
trend. March is typically the best month of the year for mortgage performance
and over the years other sources have explained this in part on the winding
down of winter’s higher home energy heating costs, seasonal relief from back-to-school
and holiday expenses, the short month the precedes it, pushing some February
payments into March, and as Black Knight also says, the arrival of tax refunds.
These factors have, over the last 20 years, helped delinquencies decline by an
average of 10 percent in March as homeowners have used extra funds to catch up
on mortgage payments.