Mortgage Delinquencies, Foreclosure Rates Fall
The foreclosure picture continues to show year-over-year improvement, with delinquencies down and foreclosure inventories falling, according to a report of February data from Lender Processing Services (LPS), which provides technology and data for the mortgage and real estate industries.
The total U.S. loan delinquency rate — loans 30 or more days past due but not in foreclosure — dropped to 6.8 percent in February, according to LPS. The delinquency rate has fallen 6.51 percent in the past year.
The foreclosure pre-sale inventory rate has fallen nearly 20 percent in the past year to 1.7 million homes, according to LPS.
About 5.1 million homes in the U.S. are either in foreclosure or delinquent, according to LPS.
The states with the highest percentage of delinquent loans are:
- New Jersey
- New York
Meanwhile, the states with the lowest percentage of delinquent loans are:
- South Dakota
- North Dakota