Mortgage Delinquencies Have Declined Year Over Year
JACKSONVILLE, Fla. – The number of mortgages 30 days or more delinquent, but not in foreclosure, increased 2.4% in June, but the actual delinquency rate has declined over the past one year by 10.4%.
The figures were released by Lender Processing Services as part of its “first look” mortgage report. The company, which has data on approximately 40 million mortgages in its database, reported that there currently are fewer than 4.4 million properties 30 days delinquent or more and nearly 1.9 million homes that are seriously delinquent – homeowners who have not made payments in 90 days or more.
Lender Processor Services reported that while the delinquency rate went up in July throughout the country, foreclosure pre-sale inventory decreased from the prior month by 0.4%. The overall inventory rate is now at 4.11%, the report said. Over the past year, the inventory rate has increased 9.7%.
Consistent with earlier months, the states that had the most non-current loans were Florida, Mississippi, Nevada, New Jersey and Illinois, while the fewest non-current loans were found in Montana, Wyoming, Alaska, South Dakota and North Dakota.