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Black Knight’s First Look at November 2018 Mortgage Data

Black Knight's First Look: November Prepayment Activity Hits 10-Year Low as Refinances Fall and Housing Turnover Sees Seasonal Decline

Black Knight’s First Look at November 2018 Mortgage Data
  • Prepayment activity (single month mortality) fell 15 percent month-over-month and 33 percent year-over-year to its lowest level since November 2008
  • Historically, prepayments were driven primarily by refinance activity but, more recently, the primary driver has become housing sales
  • The last time the prepayment rate was this low – in the heat of the financial crisis – interest rates were above 6 percent and purchase lending had fallen by more than 50 percent in a 24-month span
  • Delinquencies saw a slight seasonal increase in November, but remain 19 percent below last year’s level
  • Serious delinquencies (90 or more days past due) also increased slightly for the month; now stand at 510,000
  • Foreclosure starts fell by 11 percent month-over-month, with an estimated 45,200 starts in November
  • A slight uptick in foreclosure inventory was offset by a month-over-month increase in the number of outstanding mortgages, resulting in a net decline in the national foreclosure rate

JACKSONVILLE, Fla. – Dec. 20, 2018 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at November 2018 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 Jan. 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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