Mortgage delinquencies rise to highest level since 2011

4.3M homeowners are past due on their mortgages or in active foreclosure, up from 2M at the end of March, according to Black Knight's McDash Flash Payment Tracker.

However, a higher share of payments have been made so far in June than at the same time in May, suggesting the rise in delinquencies may be leveling off.

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) was 7.76% in May, up 20% M/M.

Foreclosure starts and sales (completions), on pause due to COVID-19 moratoriums, remain at record lows.

Total U.S. foreclosure pre-sale inventory rate is 0.38%, down 5.8% M/M and total U.S. foreclosure starts of 5,100 sinks 31% M/M.