There was a general increase in foreclosure activity in May according to Black Knight Financial Services.  Its "First Look" at data that will be further explored when it publishes its Mortgage Monitor shows increases in all early and some late stage foreclosure metrics.

The delinquency rate rose 3.95 percent from April to May and is now 4.96 percent.   It was the second month in a row that delinquencies of 30 days or more increased but the rate is still 12 percent below its level in May 2015.  The number of loans that are 30 or more days overdue but not yet in foreclosure total 2.5 million, an increase of 98,000 month-over-month but down 326,000 from a year earlier.  The more seriously delinquent portion of those loans declined during the month; 922,000 are more than 90 days past due but not yet in foreclosure, a decrease of 30,000 from April and 247,000 since May 2014.

There were 81,900 loans that started the foreclosure process during the month, an 11 percent increase from April.  The foreclosure inventory - homes in the process of foreclosure - declined by 10,000 during the month to 794,000.  A year ago the foreclosure inventory loans was larger by 212,000 units.

There were 3.3 million non-current loans in May including both delinquent loans and those in foreclosure.  This was an increase of 89,000 from April but down 537,000 from one year ago.  Foreclosure sales increased by 6.42 percent for the month and 2.88 percent for the year.  The foreclosure rate as a percentage of seriously delinquent loans was 2.01 percent.

Mississippi led the nation with 12.97 percent of its loans being non-current in May.  New Jersey had a non-current rate of 10.86 percent, and Louisiana 10.10 percent.  Rounding out the top five were New York with 9.43 percent and Maine at 9.40 percent.  Florida was the most improved state with a 22.15 percent drop in non-current loans over the previous six months.