Delinquencies and Foreclosures Rose in May

According to Black Knight Financial there was a slight increase to foreclosure activity in May. The delinquency rate rose 3.95% from the previous month and currently stands at 4.96%. It’s the second month we’ve seen that delinquencies greater than 30 days increased. The total number of loans that are 30 days or more late (but not in foreclosure) stands at 2.5 million, which is lower YoY (326k). There was also a decrease in serious delinquent loans not in foreclosure.
Foreclosure inventory declined for the month to 794,000 units. Last year foreclosures were just over a million units