JACKSONVILLE, Fla.–The percentage of mortgages that are delinquent decreased 14.1% in March vs. February, and was also down 11.4% year-over-year, according to data from Black Knight’s First Look report for March.
The percentage of loans in the foreclosure process declined 4.6% in March and were down 29.2% over the last year, Black Knight said.
According to the report, the mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 3.62% in March, down from 4.21% in February.
The percentage of loans in the foreclosure process declined in March to 0.88%.
The number of delinquent properties, but not in foreclosure, is down 231,000 properties year-over-year, and the number of properties in the foreclosure process is down 183,000 properties year-over-year, Black Knight said.