National Delinquency Rate On The Rise For Second Straight Month

National Delinquency Rate On The Rise For Second Straight Month

Short Sale Solutions

 

According to DSNews, the national delinquency rate on residential mortgages rose for the second consecutive month, reaching its highest level in four months, according to Black Knight Financial Services’ “First Look” at Mortgage Data for September 2015 released Friday.

The percentage of delinquent mortgages (loans 30 days or more overdue but not in foreclosure) rose by 1.7 percent over the month in September, reaching 4.87 percent—the highest level since May 2015. This percentage represented about 2.45 million mortgages nationwide, with the monthly increase totaling about 44,000.

“New delinquencies have returned to historical norms and there’s nothing inherent in the market to suggest that this is more than a typical short term fluctuation,” said Ben Graboske, SVP of Black Knight’s Data & Analytics Division. “In fact, the delinquency rate increases of the past two months are part of a seasonal trend that we see on a yearly basis. In each of the past six years, the rate of new seriously delinquent inventory has peaked in September or October, and that is what we’re seeing this year as well.”

 

National Delinquency Rate On The Rise For Second Straight Month

Short Sale Solutions

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