The national delinquency rate shot above 6 percent for first time since February last month, according to a new report from real estate analytics provider Black Knight Financial Services. However, the number of foreclosures across the country continued their steady decline, with foreclosure starts dipping 9 percent from October and hitting their lowest level since May 2006.

The total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) was 6.1 percent in November, up 11.8 percent from October but down 5.7 percent compared to November 2013.

The number of U.S. properties in foreclosure but not yet sold totaled 1.6 percent of all properties, down 3.5 percent compared to October and down 34.7 percent compared to this time last year. There were 73,900 new foreclosure starts across the country in November, down 9.2 percent compared to October and down 29.6 percent compared to November 2013.

There were more than 3 million homes across the country that were 30 or more days past due but not yet in foreclosure, an increase of 329,000 compared to October but down by 153,000 compared to November 2013.

The number of seriously delinquent properties – those that are 90 or more days past due, but not in foreclosure – totaled 1.16 million, an increase of 62,000 from October but a decline of 120,000 compared with this time last year.

There were 829,000 properties n the foreclosure inventory, down 29,000 compared to October and down 427,000 compared to November 2013. 

Black Knight: Delinquencies Bump Up In November, Foreclosures Continue Decline

by Banker & Tradesman time to read: 1 min
0