Black Knight Financial Services Data and Analytics Division reports that October saw the fewest number of foreclosure starts in almost 12 years, according to its first look at mortgage performance data used in its Mortgage Monitor.
The company reported 56,500 foreclosure starts in October, down more than 8 percent from September and a 22 percent decline from a year earlier. The overall foreclosure rate fell below 1 percent of all mortgages for the first time since July 2007.
Black Knight said there are just more than 500,000 loans in active foreclosure, down more than 200,000 from a year earlier.
The delinquency rate, which includes loans that are 30 or more days past due, but not in foreclosure, rose from September to 4.35 percent, but remains 8.9 percent lower than a year earlier.
The total number of delinquent homes is 2.202 million, while 677,000 of those are 90 or more days past due, but not in foreclosure.
The states with the highest percentage of homes non-current (including foreclosures and delinquencies) are Mississippi (11.2 percent), Louisiana (10.2 percent), New Jersey (8.2 percent), Alabama (7.9 percent) and New York (7.9 percent).
The states with the lowest percentage of homes non-current are North Dakota (2.2 percent), Colorado (2.4 percent), Minnesota (2.7 percent), Montana (2.9 percent) and South Dakota (3 percent).