Posted To: MND NewsWire

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. Serious delinquencies are also in retreat. Loans that were 90 or more days past due but…(read more)

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Source: Mortgage News Daily