Mortgage delinquency rate at near low

The national mortgage delinquency rate fell 3.6% to 2.79% in August – just four basis points above the record low in May, according to data and analytics firm Black Knight.

The data follows consecutive record lows reported in the first quarter of 2022. Last month, mortgage delinquency rates for residential properties also plunged to their lowest level since 1979, the Mortgage Bankers Association said, even beating out the previous pre-pandemic survey low in 2019.

Black Knight reported broad improvement, with the number of borrowers with a single payment past due falling by 4%, and those 90 or more days delinquent by 4.5%.