U.S. Foreclosure Starts Up More Than 440% Year-Over-Year

Black Knight Inc. has released a “first look” the latest iteration of its Mortgage Monitor Report for June 2022, which looks at delinquency and foreclosure rates across the U.S.

According to Black Knight, the national delinquency rate rose to 2.84% in June, ending a downward trend that has materialized over the last few months. The delinquency rate was 2.75% in May, 2.80% in April, and 2.84% in March.

Looking specifically at foreclosure starts, this metric was up 26.6% in June on a monthly basis, but up 440.91% year-over-year. 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.

In addition, active foreclosure inventory rose by 16,000 units as volumes continue to slowly come off the record lows brought on by the pandemic moratoriums and forbearance programs.