Delinquencies and Foreclosures Rise in June

Delinquencies and foreclosures both saw upticks in June, according to Black Knight’s June report…(BK)

• The national delinquency rate rose nine basis points from May to reach 2.84% after hitting consecutive record lows in each of the prior three months.

• Foreclosure starts were also up 27% in June, this now up 441% year-over-year. This is a significant rise from pandemic-driven lows, but is still 40% below pre-pandemic levels.

NOTE: Starts also represented the highest share (4%) of serious delinquencies since March 2020, but less than half the rate in the years leading up to the pandemic.

I’m sure crash bros are going to report this data accurately by reminding everyone that despite the large increases, these numbers are significantly lower than the levels we saw pre-pandemic. I’m sure they are…