Prepayment speeds were lifted to a 12-month high in June thanks
The monthly prepayment rate in June was 1.44%, which is 10.3% higher than in May and 3.24% higher than a year ago, Black Knight said in its "First Look" data released Tuesday.
Foreclosure starts also rose month-over-month in June for the second month in a row. Total foreclosure starts were 69,300, which is an 11.6% increase from May but an 11.3% decrease from last year.
Black Knight added that despite the increase, the second quarter of 2016 had the lowest number of starts in more than 16 years.
The number of properties that are 30 or more days past due on their mortgage payment but not in foreclosure totaled about 2.2 million in June.
Meanwhile, the number of properties in foreclosure presale inventory fell by 16,000 from a month ago and by 231,000 from June 2015 to 558,000 properties.
