Rates Spur Surge in Prepayment Rate in March

Posted To: MND NewsWire

The national delinquency rate as reported by Black Knight Financial Services has now dropped to levels not seen in 15 years while the serious delinquency rate (90 days or more past due) is at its lowest point since March 2007. Loans that are 30-days or more past due but not in foreclosure fell to 4.08 percent of all mortgage loans in March. This was a decrease of 8.37 percent from February and was 12.42 percent below the same month in 2015. Black Knight Financial Services released its distressed property measures as a “first look” at data that will be contained in the company’s monthly Mortgage Monitor usually published in or near the first week of the following month. The current first look covers March loan data. The company also said that the recent decline in interest rates has spurred…(read more)

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