The monthly prepayment rate declined in January, an indication of the effects of higher interest rates.
Black Knight Financial Services reported Thursday that the monthly prepayment rate fell 30% month over month to 0.95%. Still, the rate was 17% higher than a year earlier.
Similarly, the total U.S. loan delinquency and foreclose presale inventory rates also dropped. The total loan delinquency rate was 4.25%, which was 4% lower than in December and 17% lower than a year earlier. The foreclosure presale inventory rate meanwhile was 0.94%, representing a 0.46% monthly decrease and a 28% annual decline.
Total foreclosure starts rose 18% from December to 70,400, but remained 2% lower than January 2016.
