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Black Knight’s First Look at January 2019 Mortgage Data

Black Knight’s First Look: January’s Prepayment Rate Lowest in More Than 18 Years as Seasonal Home Sale Reductions Outweigh Rise in Refinance Incentive

Black Knight’s First Look at January 2019 Mortgage Data
  • Despite recent declines in interest rates, January’s prepayment rate was the lowest since November 2000
  • Seasonal reductions in home sales outweighed any early, rate-driven rise in refinance incentive
  • Housing turnover typically bottoms out in January and February, so prepayments could pick up again if rates remain low through the early spring home buying season
  • The national delinquency rate fell by 3.5 percent and is now nearly 13 percent below last year’s level
  • Foreclosure starts rose seasonally month-over-month but were down more than 19 percent year-over-year
  • The number of loans in active foreclosure continued its downward trend; there are now 265,000 active foreclosures, down 72,000 from one year ago

JACKSONVILLE, Fla. – Feb. 25, 2019 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at January 2019 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:

  • Totals are extrapolated based on Black Knight’s loan-level database of mortgage assets.
  • All whole numbers are rounded to the nearest thousand, except foreclosure starts, which are rounded to the nearest hundred.

The company will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which includes an analysis of data supplemented by detailed charts and graphs that reflect trend and point-in-time observations. The Mortgage Monitor report will be available online at https://www.blackknightinc.com/data-reports/ by March 7, 2019.

For more information about gaining access to Black Knight’s loan-level database, please send an email to dataanalyticsinfo@bkfs.com.

 

About Black Knight

Black Knight (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.

As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.BlackKnightInc.com.

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