Foreclosure starts fell 22% from the previous month, according to a Black Knight Financial Services month-end mortgage performance statistics report. The total of 73,500 starts is at a 6.73% decrease from the year before.
Delinquencies for the month increased slightly, up 1.46% from the previous month but down 15.04% from the previous year. The national rate is at 4.77%.
The U.S. foreclosure presale inventory rate continued to decline towards precrisis levels. At 1.51%, it is 2.43% lower than the previous month and 25.45% lower from the year before.
The April prepayment rate fell 14.49% from the month before, landing at 1.39%, still 60.12% higher than from the year before.
Florida had the highest rate of improvement of noncurrent loans — 8.4%, and a 17.4% reduction in its noncurrent inventory over the past six months; Illinois, 6.45% and a 15.14% reduction; Michigan, 5.32% and a 14.12% reduction; Iowa, 4.93% and a 13.76% reduction; and Colorado, 3.05% and a 13.67% reduction.
