LPS: US loan delinquency rate edges up 2.63%
NJ takes the No. 2 spot for non-current loans as Florida improves
The U.S. loan delinquency rate edged up a bit in November, but has been on the decline for most of the year, with delinquencies down more than 10% year-to-date, Lender Processing Services (LPS) said.
Foreclosure inventory also fell, edging down another couple of points to 2.5% in November and 29% year-over-year, LPS noted Monday morning.
The overall U.S. foreclosure inventory now stands at 1.256 million loans in foreclosure, according to LPS’s First Look Mortgage Monitor Report.
The total U.S. loan delinquency rate is hovering at 6.45% — including all loans 30 or more days past due or not in foreclosure.
The delinquency rate year-over-year fell 9.41%, while the month-over-month change in the foreclosure presale inventory rate fell 1.72% while the year-over-year rate declined 28.81%.
States with the highest percentage of non-current loans included Mississippi, New Jersey, Florida, New York and Louisiana.
As LPS pointed out, Florida continues to improve with New Jersey taking over the second spot in the list.
States with the lowest percentage of non-current loans included Colorado, Montana, Alaska, South Dakota and North Dakota.