Mortgage Delinquency Still Low Despite Small Increase in April

The mortgage loan delinquency rate in the United States reached 4.77% in April rising 1.46% from March. This is revealed in the “first look” report on mortgage performance for April 2015 compiled by Black Knight Financial Services. Despite the small increase, the rate remains low in comparison to the years after the most recent housing crisis. It marked a decrease of 15.4% on a year-over-year basis.

The foreclosure presale inventory rate in April was 1.51%. This is the lowest level reached since 2008. The rate declined by 2.43% from March of this year. Its decrease from April 2014 was 25.45%.
There were 73,500 foreclosure starts in April. This number went down by 21.89% from March to April. On a year-over-year basis, the decrease was 6.73%.

There were 2,415,000 mortgaged properties 30 or more days past due, but not in foreclosure in April of this year. This was 35,000 units more than in March. However, the number of homes in this category was 406,000 units down compared to April 2014.

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There were 952,000 homes 90 or more days past due, but not in foreclosure in April 2015. The number declined by 19,000 units on a month-over-month basis. The decrease on a year-over-year basis was 235,000.
There were 764,000 homes in foreclosure pre-sale inventory in April of this year. This was 19,000 down from March and 252,000 down from last year.

There were 3,179,000 properties 30 or more days past due or in foreclosure in April 2015. Despite the increase of 17,000 from March, the number is 658,000 down compared to April 2014.

The state with largest share of non-current mortgage loans (delinquencies plus foreclosures) in April was Mississippi with 12.63%. Still, it was 8.51% lower compared to April of last year. North Dakota had the smallest share of non-current mortgage loans in April 2015 – 2.91%.



Christian Calvin mortgage Christian is a contributing writer for He is a graduate from the University of Tennessee with a degree in Communications and a concentration in Broadcasting. Christian has served as vice-president for a privately-held company for more than 20 years. Additionally, he has also applied his writing and business knowledge to various websites with a focus on business and sports news . . . both of which are passions. Christian enjoys playing golf and spending time with his family and friends.


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