Black Knight: National Mortgage Delinquency Rate Decreased in March

Prepayment activity increased by 28% month-over-month, the largest single-month increase in more than 2.5 years, in response to declining interest rates and the start of the homebuying season
The national delinquency rate fell by 5.3% for the month, the smallest improvement for any March in six years in what is typically the strongest-performing month of the year
March 2019 ended on a Sunday, which has historically led to an increase in delinquencies, and came on the heels of February’s atypical increase in delinquencies
The month’s 39,700 foreclosure starts marked the lowest single-month volume in more than 18 years, while reduced outflow held active foreclosure inventory steady at 264,000
Outstanding 90-day delinquencies have now fallen below 500,000 for the first time in more than 12 years