Bigger Than Normal Drop in Mortgage Delinquencies

Bigger Than Normal Drop in Mortgage Delinquencies

Mortgage delinquencies hit a record low in March according to the "first look" report on mortgage performance released today by Black Knight. Hitting a record low is actually less interesting in this case because delinquency rates were already near all-time lows.  More interesting is that in non-seasonally adjusted terms, delinquencies dropped by 15.5%--significantly faster than the historical that's been just over 10% for the past 20 years. What's with the big change in performance?  Black Knight credits several factors: an exceptionally strong labor market continued student loan deferrals strong performance following forbearances record low interest rates for those who refinanced in the past 2 years Also interesting was the fact that loan prepayments (the indus