This week Black Knight Financial Services released their May 2016 “First Look” report containing performance statistics derived from its loan-level database representing the majority of the national mortgage market.
Key takeaways:
- Foreclosure inventory now below 575,000 from over 800,000 just 12 months ago
- Foreclosure starts up from 10-year low in April, but at 62,100 remain below pre-crisis levels
- Prepayment speeds (historically a good indicator of refinance activity) continue to trail 2015 levels despite interest rates being lower than last year
- Delinquencies inched up in May; still down by over 13 percent on an annual basis
Click here to read the full report at Black Knight Financial Services.
