The national delinquency rate for loans 30 or more days past their payment date but not in foreclosure is at 8.34% through July 2011.
Lender Processing Services’ “first look” mortgage report revealed that this figure represents a 2.4% month-over-month increase. However, the delinquency rate over the past year has gone down 10.4%.
There are currently less than 4.4 million properties 30 days delinquent or more and nearly 1.9 million homes that are seriously delinquent—homeowners who have not made payments in 90 days or more.
The Jacksonville-based analytic provider’s monthly report comes from approximately 40 million mortgage loans in the firm’s database.
While the delinquency rate went up in July throughout the country, foreclosure pre-sale inventory decreased from the prior month by 0.4%. The overall inventory rate is now at 4.11%, the report said. Over the past year, the inventory rate has increased 9.7%.
Similar to the last month, the states that had the most non-current loans were Florida, Mississippi, Nevada, New Jersey and Illinois, while the least non-current loans were found in Montana, Wyoming, Alaska, South Dakota and North Dakota.
