The U.S. mortgage delinquency rate rose between June and July, while the nation’s foreclosure pre-sale inventory rate edged down slightly. The delinquency rate for U.S. mortgages more than 30 days past due but not in foreclosure hit 8.34% in July, up 2.4% from the previous month, Lender Processing Services (LPS) said in its monthly First Look Mortgage Report. On a year-over-year basis, the same delinquency rate fell to 10.4%, LPS said after studying 40 million loans in its database. The Jackonsville, Fla.-based mortgage technology and data analytics provider said 4.4 million properties were classified as more than 30 days past due last month, while 1.89 million were listed as more than 90 days past due. When looking at loans that are either 30 days or more delinquent or in foreclosure, the database has approximately 6.5 million mortgages that fit that criteria. States with the most delinquent loans included Florida, Mississippi, Nevada, New Jersey and Illinois, while Montana, Wyoming, Alaska, South Dakota and North Dakota had the fewest non-current loans. The total U.S. foreclosure pre-sale inventory rate hit 4.11% in July, a 9.7% surge from last year, but a slight o.4% decline from June. Write to: Kerri Panchuk.
Mortgage delinquency rate grew 2.4% in July
Most Popular Articles
Latest Articles
Pending home sales pick up in February: NAR
Transactions remain 7% lower on an annualized basis as mortgage rates remain an obstacle
-
11 real estate events & conferences to help you thrive in 2024
-
In quest to grow reverse business, US Mortgage Corporation hires Krajewski
-
NAR wants VA to change rules that prohibit veteran buyers from paying broker commissions
-
Renters gain financial edge over homebuyers in key U.S. markets: Realtor.com
-
Reverse-centric Ibis Software appoints Sivori to board of directors