Mortgage Delinquency Rates Continue to Drop

In yet another sign of a stable and even vibrant housing market, more and more homeowners are current on their mortgage payments.

According to Black Knight Inc.’s First Look at January 2019 mortgage data, mortgage payment delinquencies continued to improve with a 3.45% drop month-over-month and a 12.93% decline year-over-year down to a rate of only 3.75% (based on loans 30 days or more past due but not in foreclosure). That represents a total of 1,945,000 homes.

The highest non-current percentages were in Mississippi (10.10%), followed by Louisiana (7.96%), Alabama (6.75%), West Virginia (6.42%), and Arkansas (6.04%). These states, except West Virginia, are also in the top 5 for serious (90+ days) delinquencies along with Delaware.

The states with the largest deterioration of non-current percentage in the past 6 months are DC, Nebraska, Illinois, South Dakota, and Iowa.

Colorado posted the smallest non-current percentage at 1.82% followed by Oregon (2.03%), Washington (2.15%), Idaho (2.20%), and Utah (2.45%).

Source: Black Knight First Look