First Look At February 2019 Mortgage Data
Bucking Historical Seasonal Trend, February Sees Delinquencies Rise; Prepayments Up 11 Percent, Driven by Softening Interest Rates
- Delinquencies rose by 3.7 percent in February, the first February increase in 12 years
- Despite the monthly rise, delinquencies remain more than 9.5 percent below last year’s level
- At 40,400 for the month, foreclosure starts were down 19.5 percent from January and edged close to September 2018’s 15-year low
- The national foreclosure rate improved marginally and is now down more than 21 percent year-over-year
- Prepayment speeds rose by 11 percent from January’s 18-year low, suggesting an increase in refinance activity driven by the recent decline in 30-year interest rates
JACKSONVILLE, Fla. – March 21, 2019 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at February 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.
- 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 April 1, 2019.
For more information about gaining access to Black Knight’s loan-level database, please send an email to Mortgage.Monitor@bkfs.com.
About Black Knight
Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serving their customers. For more information on Black Knight, please visit www.blackknightinc.com.