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According to Black Knight’s “first look” report for December, 2022, the national delinquency rate on first lien mortgages increased to 3.08% in December, but finished the year 30 basis points (-9%) below its December 2021 level. Black Knight says foreclosure starts increased by 15% in December to 26,900 – which was the third consecutive increase, however that figure was still 30% below pre-pandemic levels. In addition, foreclosure was started on 4.9% of serious delinquencies in December (up from November) but was still 46% below the start rate seen in December 2019 prior to the pandemic.