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 New York 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.
The New York metro area as a whole ranked below the national average, but is much improved from last year. The total number of non-current loans in the state was 7.9 percent, down 16.2 percent year-over-year.
The total number of delinquent loans in the area was 4.5 percent.