The percentage of mortgages 30 or more days past due dropped 14 percent in March, hitting its lowest level since 2006, according to Black Knight Financial Services.
According to Black Knight’s analysis of mortgage performance, 3.62 percent of mortgages throughout the U.S. were delinquent during March 2017 – a 14.08 percent decrease from February and an 11.40 percent year-over-year decline.
Black Knight’s analysis also found loans delinquent or in active foreclosure during March dipped below 2.3 million; and prepayment speeds jumped 20 percent in March.
States with the highest percentage of delinquent mortgages in March were Mississippi (9.70 percent); Louisiana (8.46 percent); Alabama (6.87 percent); New Jersey (6.64 percent); and West Virginia (6.56 percent).
States with the lowest percentages of delinquent mortgages in March were Colorado (2.06 percent); North Dakota (2.09 percent); Minnesota (2.36 percent); Idaho (2.63 percent); and Montana (2.57 percent).
During March, the number of mortgages in foreclosure declined by 326,000.