Delinquencies Continue to Decline but Forbearances Still a Concern; Highest Rates Since April
The national delinquency rate has fallen below 4.0 percent for the first time since COVID-19 started messing up the world. Black Knight, in its "first look" at September's mortgage performance data, says the rate in September, 3.91 percent, represents a reduction of more than 41 percent from September of 2020 and is 2.25 percent below the August level. Delinquencies have moved lower in 14 of the last 17 months. There were 2.068 million loans that were 30 or more days past due in September, not including loans in foreclosure. This is down 54,000 from the prior month and 1.474 million fewer past due loans than the prior September. Black Knight says there would have been fewer delinquencies in September if not for Hurricane Ida which hit Louisiana especially hard. There was an increase of 7,800
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