Mortgage delinquency rate falls to 9-year low

mortgage delinquentHousing market is also finally ‘seeing the fruits’ of low mortgage rates

By Teke Wiggin | Inman

The mortgage delinquency rate dropped to its lowest level in nine years in March, according to Black Knight Financial Services.

The share of loans that were 30 days or more past due but not in foreclosure (the definition of the mortgage delinquency rate) slipped to 4.08 percent, down by 12 percent from the previous year and 8 percent month over month. Not since March 2007 has the delinquency rate clocked in that low.

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