Black Knight: Foreclosures hit lowest level since May 2008
Kennesaw’s Ashford Capital Partners’ Managing Partners Matthew Riedemann brings you news you can use.
As a result, the foreclosure inventory at its lowest level since May 2008.
Black Knight’s “first look” at June 2014 month-end mortgage performance statistics is derived from its loan-level database representing approximately two-thirds of the overall market.
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Black Knight saw foreclosure starts rise for the second month in a row, although starts are still down 19% from this time last year.
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The delinquency rate increased slightly on a month-over-month basis, up 1.55% in June, still down approximately 15% from last year.
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The monthly mortgage prepayment rate, which is historically a good indicator of refi activity, rose again in June, the fourth consecutive month it has done so.
The average loan in foreclosure has been past-due on its payments for 997 days, hitting yet another new high.