Posted To: MND NewsWire
Prepayment rates continue to signal that the refinancing boom is over . Black Knight Financial Services said that the single month mortality (SMM) or prepayment rate fell 15 percent in August to 1.07 percent. Prepayments reached a 12 month high in March and immediately began to decline, slipping on a nearly monthly basis since then. Despite the decreases the rate remains 11.47 percent higher than in August 2014. The prepayment figures were among the data contained in Black Knight's first release of month-end August loan performance information which will be further expanded in the company's Mortgage Monitor which will be released on October 5. As usual First Look primarily focuses on distressed loan data and in August that was mostly good news. While the national delinquency rate was up slightly...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/1MUht7H
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