The total U.S. loan delinquency rate edged up from 7.12% in April to 7.20% in May, according to Lender Processing Services‘ latest First Look Mortgage Report.
The total loan delinquency rate counts all mortgages that are 30 or more days past due, but not in foreclosure. The data is extrapolated from the firm’s analysis of 40 million mortgages.
The delinquency rate for the country grew 1.1% from April, but remains 9.6% below last year’s delinquency rate.
The country’s total foreclosure pre-sale inventory rate hit 4.12% in May, down 0.5% from April and up a slight 0.2% from last year.
Overall, the number of properties 30 or more days past due, but not in foreclosure, hit 3.54 million last month, compared to 3.52 million in April.
The number of properties that are 90 or more days past due, but not in foreclosure, hit 1.58 million, down slightly from 1.595 million a month earlier.
To date, the country has 2.027 million properties in its foreclosure pre-sale inventory, while the number of properties that are 30 or more days past due or in foreclosure hit 5.569 million.
U.S. states with the highest percentage of non-current loans include Florida, Mississippi, New Jersey, Nevada and Illinois. Those with the lowest percentages of non-current loans include Montana, Alaska, South Dakota, Wyoming and North Dakota.
