One of the first indications that the housing market is in trouble is foreclosure rate — so it’s good to keep a close eye on that.
Black Knight Financial Services, which provides technology, data and analytics for lenders and servicers, released its “Mortgage Monitor” for April 2016. Here’s how Florida is comparing to the rest of the country.
The total number of non-current loans in the United States in April 2016 was 5.4 percent. This is down 14.6 percent year-over-year.
The total number of delinquent loans (30 or more days past due, but not in foreclosure) was 4.24 percent nationally.
Florida as a whole remains below the national average, but the situation is much improved from a year ago. The total number of non-current loans in the state was 6.6 percent, down a staggering 23.9 percent year-over-year.
The total number of delinquent loans in the state was 4.5 percent.