By Dennis Norman, on June 23rd, 2012
The mortgage delinquency rate (the percentage of home loans 30 or more days past due) increased in May 1.1 percent from the month before according to the latest ?First Watch Report? from Lenders Processing Services (LPS). While it?s a modest increase, this marks the second consecutive month we?ve seen an increase in mortgage delinquency rates reversing the downward trend for the 9 months prior which is not good. Since delinquent mortgages are the precursor to forelcosures and foreclosures have wreaked havoc on home prices, this is something we definitely want to keep an eye on.
| Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): | 7.20% |
| Month-over-month change in delinquency rate: | 1.1% |
| Year-over-year change in delinquency rate: | -9.6% |
| Total U.S. foreclosure pre-sale inventory rate: | 4.12% |
| Month-over-month change in foreclosure presale inventory rate: | -0.5% |
| Year-over-year change in foreclosure presale inventory rate: | 0.2% |
| Number of properties that are 30 or more days past due, but not in foreclosure: (A) | 3,542,000 |
| Number of properties that are 90 or more days delinquent, but not in foreclosure: | 1,575,000 |
| Number of properties in foreclosure pre-sale inventory: (B) | 2,027,000 |
| Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) | 5,569,000 |
| States with highest percentage of non-current* loans: | FL, MS, NJ, NV, IL |
| States with lowest percentage of non-current* loans: | MT, AK, SD, WY, ND |
Source: LPS First Watch Report
Related posts:
- Mortgage delinquencies increase in November; ? Foreclosures decline from month before
- Mortgage Delinquencies Increase in April
- Mortgage delinquencies and foreclosure inventory increase in June
- Mortgage delinquencies decline in October; ? Foreclosures on the rise
- Mortgage Delinquencies and Foreclosure Inventory Decrease In May
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