Mortgage Delinquencies Continued to Drop in October, but Foreclosure Starts Inched Up
Industry Update
November 22, 2021
Source: mortgageorb.com
Mortgage delinquencies continued to drop during October, falling to just 3.74% of all loans, according to Black Knight’s First Look report.
That’s a decrease of 4.25% compared with September and down a whopping 42% compared with October 2020. However, serious delinquencies remain elevated and, as pandemic-related forbearance plans expire, it is expected that foreclosures will rise.
In fact, foreclosure starts ticked up slightly in October, rising 2.56% compared with September, according to Black Knight’s data.
Still, foreclosure starts were down 15% compared with October 2020.
For full report, please click the source link above.