Alabama mortgage statistics wobble

State ranks in top five for slow payments

Data analytics firm Black Knight Inc. has ranked Alabama in the top five states for non-current mortgages, 90-day delinquent mortgages and deterioration of non-current percentage of mortgages.

The numbers come at a time when the national delinquency rate is near pre-pandemic levels, Black Knight says.

“February’s increase was driven by a rise of 97,000 in early-stage delinquencies — which nevertheless remain well below pre-pandemic levels,” the firm said in releasing its data. “At the same time, the number of seriously delinquent mortgages (those 90 or more days past due) fell by 72,000 as borrowers leaving forbearance plans continue to return to making payments.”

While overall numbers looked positive, Alabama ranked fourth worst for the percentage of its mortgages regarded as “non-current” — 30 days or more in arrears — with a rate of 5.24%.

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Alabama is ranked third worst in the 90+ days delinquent mortgages category with a rate of 2.17%.

And while best performing states saw the percentage of non-current mortgages drop by double digits, Alabama saw the rate deteriorate by 3.39%.

The data released today represents Black Knight’s “first look” with final Mortgage Monitor data to be reported April 4.

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