LPS reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) decreased to 6.20% from 6.41% in July. The normal rate for delinquencies is around 4.5% to 5%.
The percent of loans in the foreclosure process declined to 2.66% in August from 2.82% in July. The is the lowest level in 4 1/2 years.
The number of delinquent properties, but not in foreclosure, is down 306,000 properties year-over-year, and the number of properties in the foreclosure process is down 679,000 properties year-over-year.
LPS will release the complete mortgage monitor for August in early October.
LPS: Percent Loans Delinquent and in Foreclosure Process | |||
---|---|---|---|
August 2013 | July 2013 | August 2012 | |
Delinquent | 6.20% | 6.41% | 6.87% |
In Foreclosure | 2.66% | 2.82% | 4.04% |
Number of properties: | |||
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure: | 1,836,000 | 1,846,000 | 1,910,000 |
Number of properties that are 90 or more days delinquent, but not in foreclosure: | 1,288,000 | 1,347,000 | 1,520,000 |
Number of properties in foreclosure pre-sale inventory: | 1,341,000 | 1,406,000 | 2,020,000 |
Total Properties | 4,465,000 | 4,599,000 | 5,450,000 |
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