After a seasonal phenomenon occurred in June where mortgage delinquencies spiked up, the trend started to take a reverse course again in July, according to data from Lender Processing Services.
In the Jacksonville, Fla.-based company’s “first look” report, delinquencies were down 3.96% from
Over the last year, the delinquency rate has declined by 8.76%, LPS noted.
The states with the highest percentage of noncurrent loans are Florida, Mississippi, New Jersey, New York and Maine.
On the opposite note, Wyoming, Montana, Alaska, South Dakota and North Dakota have the smallest amount of mortgage loans that are not delinquent.
There was also a strong improvement in the pre-sale foreclosure inventory, LPS stated in the report. Due to a month-over-month drop of 3.46% in the number of loans in foreclosure, the foreclosure inventory rate through the end of July is 2.82%, the lowest figure since February of 2009.
Since July 2012, the foreclosure inventory rate has fallen by 30.76%.
LPS said over 3.1 million properties are delinquent by at least 30 days, but not in foreclosure, while 1.4 million housing units account for the foreclosure pre-sale inventory.
