Black Knight on Monday released an early look at February mortgage performance statistics in the United States, reflecting the health of industry in the last days before the coronavirus pandemic swept the nation.
Black Knight’s data showed:
- Foreclosure starts fell 25 percent from January 2020 and 20 percent from the year prior, hitting their lowest level on record since Black Knight began publicly reporting the numbers in January 2000.
- The national foreclosure rate falling to 0.45 percent in February, the lowest it’s been since 2005 and within one basis point of an all-time low.
- Delinquencies were up slightly from January, but remain more than 15 percent below last year’s levels
- Prepayment activity rose by nearly 8 percent month-over-month as early 2020 rate declines have begun to impact refinance activity.
The full report will be released early next month.