The monthly prepayment rate ticked up slightly month-to-month after dropping to
March's monthly prepayment rate of 0.96% was a little over 20% higher than it was in February but it is down almost 26% year over year, Black Knight Financial Services reported Friday.
Loans that are 30 days or more past due, but not in foreclosure, dropped by a little more than 14% month over month and almost 12% year over year to a low not seen since March 2006.
The total noncurrent inventory of loans that are 30-days-plus past-due or in active foreclosure hit an 11-year low.
The number of loans 30-days-plus delinquent or in foreclosure was slightly over 14% lower month-over-month and 18% lower year-over-year at nearly 2.3 million.
The rate of 30-days-plus delinquencies, not including foreclosures, was 3.62% in March.
The foreclosure presale inventory rate was 0.88%, and down more than 29% year-to-year. It was 4.6% lower than during the previous month.
At 60,300, foreclosure starts were up by over 4% month-to-month but more than 17% lower than they were during the same month last year.
