Mortgage delinquencies hit lowest level in years

by Ryan Smith25 Apr 2016
Mortgage delinquencies have hit their lowest rate in years – and in the case of 30-day delinquencies, their lowest rate in at least 16 years, according to new data from Black Knight Financial.

The rate of 30-day delinquencies hit 1.95% in March, the company reported Friday. That’s the lowest level since Black Knight started collecting data in 2000.

The overall mortgage delinquency rate, meanwhile, fell to 4,08% last month, according to Black Knight. That’s the lowest rate since March of 2007. The overall delinquency rate includes loans that are 30 days or more past due but not yet in foreclosure.

Foreclosure rates are also on the decline. The number of properties in foreclosure fell to 631,000 – the lowest level since October of 2007.

There are still areas of the country where homeowners are struggling, however. Here are the states with the highest levels of non-current homeowners, according to a MarketWatch report:
State Percentage of homeowners late on mortgage
Mississippi 10.8%
New Jersey 9.07%
Louisiana 8.89%
New York 7.87%
Maine 7.77%


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