Delinquency rate down 7.7% in December from year earlier
The delinquency rate on U.S. mortgages monitored by Lender Processing Services (LPS) fell 7.7% year-over-year in December as the delinquency rate hit 8.15%. LPS said there was no change in the rate over November figures, according to its first look at December mortgage performance statistics. The total U.S. foreclosure pre-sale inventory rate hit 4.11%, which is down 1.3% from November and down 1% from last year. More than 4.1 million properties have mortgages that are 30 or more days past due, while 1.79 million have loans that are 90 or more days delinquent. Number of properties that are 30 or more days delinquent or in foreclosure equals more than 6.16 million. The states with the highest percentage of noncurrent loans include Florida, Mississippi, Nevada, New Jersey and Illinois. States with the lowest amount of noncurrent loans include Montana, Wyoming, South Dakota, Alaska and Nevada. The company will provide a more in-depth review of this data in its monthly Mortgage Monitor report on Jan. 27. Write to Kerri Panchuk.