By Dennis Norman,on March 22nd,2012
The U.S. mortgage loan delinquency rate was 7.57 percent of all home loans in February,down 5.0 percent from the month before and down 14.0 percent from a year ago,according to the ?First-Look?report issued by Lender Processing Services,one of the countries largest loan servicers and aggregators of loan performance data. The foreclosure presale inventory rate was 4.13 percent in February,a 0.5 percent decrease from the month before and a 0.3 percent decrease from a year ago.
| Total U.S. loan delinquency rate (loans 30 or more days past due,but not in foreclosure): | ? 7.57% |
| Month-over-month change in delinquency rate: | -5.0% |
| Year-over-year change in delinquency rate: | -14.0% |
| Total U.S foreclosure pre-sale inventory rate: | 4.13% |
| Month-over-month change in foreclosure presale inventory rate: | -0.5% |
| Year-over-year change in foreclosure presale inventory rate: | -0.3% |
| Number of properties that are 30 or more days past due,but not in foreclosure:(A) | 3,781,000 |
| Number of properties that are 90 or more days delinquent,but not in foreclosure: | 1,722,000 |
| Number of properties in foreclosure pre-sale inventory:(B) | 2,065,000 |
| Number of properties that are 30 or more days delinquent or in foreclosure:(A+B) | ? 5,846,000 |
| States with highest percentage of non-current* loans: | FL,MS,NV,NJ,IL |
| States with the lowest percentage of non-current* loans: | MT,AK,WY,SD,ND |
This is a good trend to see and one that hopefully will continue. Delinquent mortgages are the precursor to foreclosures and foreclosures have been pounding home prices. So goes the delinquent mortgages,so go the foreclosures and so goes their negative impact on home prices. We have a long way to go but at least things are moving the right direction.
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