Foreclosure Rate Down by 30% in 2016: Black Knight

Mortgage

The foreclosure presale inventory rate fell year over year by 30% in December, signaling the most improvement of any year on record, according to Black Knight Financial Services’ “first look” data report.

The total foreclosure presale inventory rate in December was 0.95%, which also represented a 3.29% decrease from the previous month, Black Knight said Monday. The total loan delinquency rate, which includes loans 30 or more days past due but not in foreclosure, dropped by 7.49% year over year and 0.91% month over month to 4.42%.

Altogether, there were 2.25 million properties that were 30 or more days past due, and 682,000 properties that were 90 or more days past due.

The presale foreclosure inventory featured 483,000 properties. Additionally, there were 59,700 foreclosure starts in December, down 1.16% from November and 23.56% from December 2015.

Mississippi led the country with the highest noncurrent percentage at 11.36%, while Colorado had the lowest at 2.44%. New Jersey recorded the largest six-month improvement to its noncurrent percentage with an 11.56% decrease, while Louisiana’s worsened the most with a 9.24% uptick.

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