Share:

March is typically a very strong month performance-wise, but not this year due to Covid-19.

Blank Knight reports "March Sees First Ever Mortgage Delinquency Increase in Early Sign of COVID-19 Impact "

Key Points 

  • In what’s typically the strongest month of the year for mortgage performance, delinquencies rose by 3.33%, the first March increase since the turn of the century, an early sign of COVID-19’s impact on the market
  • Both the national foreclosure and 90-day delinquency rates set new record lows in March, a lingering reminder of the strength of the mortgage market heading into the pandemic
  • At just 27,600 for the month, foreclosure starts also fell to their lowest level on record, as COVID-19-related moratoriums began to impact foreclosure inflows
  • Prepayment activity jumped by nearly 40% in March, driven by record-low 30-year mortgage rates
  • Note: For the purposes of this report going forward, the millions of homeowners who have since entered into forbearance will be counted as past due, but should not be reported as such to the credit bureaus by their servicers

Black Knight Mortgage Stats 

fxsoriginal

Year-over-year trends on delinquencies and foreclosures has been impressive. 

That will end in April or May.

 

Share: Feed news

This material is based upon information that Sitka Pacific Capital Management considers reliable and endeavors to keep current, Sitka Pacific Capital Management does not assure that this material is accurate, current or complete, and it should not be relied upon as such.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

AUD/USD turns south toward 0.6400 as sentiment sours

AUD/USD turns south toward 0.6400 as sentiment sours

AUD/USD is heading toward 0.6400, having faced rejection at 0.6450 early Monday. The Aussie fades the bounce, as the US Dollar finds fresh demand on souring risk sentiment amif China's property market concerns and the hawkish Fed outlook. 

AUD/USD News

EUR/USD hovers around 1.0650, focus on German IFO survey

EUR/USD hovers around 1.0650, focus on German IFO survey

EUR/USD is keeping its range at around 1.0650, struggling for a clear direction in the Asian trading on Monday. Markets stay risk-averse, weighing the Fed's 'higher-for-longer' rate view and lingering China concerns. Germany's IFO survey eyed. 

EUR/USD News

Gold remains steady above $1,920, focus on US data

Gold remains steady above $1,920, focus on US data

Gold price hovers above $1,920 during the Asian session on Monday. The prices of yellow metal snapped a losing streak on Friday as the US Dollar (USD) trimmed its intraday gains, which could be attributed to the falling in the US Treasury yields.

Gold News

Worldcoin Price Prediction: Is WLD done with uptrend after 77% rally?

Worldcoin Price Prediction: Is WLD done with uptrend after 77% rally?

Worldcoin price has paused its uptrend as it currently trades at $1.57. This move comes after the altcoin rallied a whopping 77% in just three days, between September 13 and 16. As WLD hovers aimlessly, investors need to be patient to catch the next volatile move. 

Read more

Week ahead – US core PCE and Eurozone flash CPIs eyed after rate pause signals

Week ahead – US core PCE and Eurozone flash CPIs eyed after rate pause signals

PCE inflation to grab attention on Friday as Fed signals higher for longer. But markets might be more worried about a government shutdown. Eurozone flash CPIs will also be the in the spotlight on Friday. Chinese PMIs to be watched for recovery signs.

Read more

Majors

Cryptocurrencies

Signatures