First-lien mortgage delinquencies jumped 13% in April to their highest level in more than eight years, according to the latest report from Black Knight Financial Services.
Black Knight reported that month-over-month, the number of borrowers past due on mortgage payments increased by 241,000 which was the highest level since 2008. The delinquencies were said to be primarily calendar-driven (due to both the month ending on a Sunday and March being the typical calendar-year low) and largely isolated to early-stage delinquencies.
Foreclosure starts were at just 52,800 in April, the fewest monthly since January 2005.
The number of home loans in active foreclosure continues to decline, hitting a 10-year low in April.
Prepayment speeds (historically a good indicator of refinance activity) fell by 11 percent from March.
Here are all the latest charts going over the mortgage stats for April 2017 from Black Knight.