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.

 

Erik Sandstrom
LoanSafe's Mortgage Expert
I'm a Senior Loan Officer and LoanSafe mortgage expert. If you need a live rate quote, or need help getting a new mortgage, please call me direct anytime at 619-379-8999.