Early-stage delinquency improved last month, while serious delinquency declined to a five-year low and the number of loans in foreclosure fell to a post-crisis low.
The rate of mortgages that were either 30 days or more delinquent or in the foreclosure pre-sale inventory was 8.62 percent as of Jan. 31.
A month earlier, the non-current rate was 8.95 percent, while it stood at 10.44 percent a year earlier.
Non-current loans numbered 4,315,000 as of last month. The total included 1,175,000 home loans that were in the foreclosure pre-sale inventory — the fewest since November 2008.
The performance data was reported Thursday by Black Knight Financial Services.
The non-current rate was highest in Mississippi, New Jersey, Florida, New York and Louisiana.
Montana, Colorado, Alaska, South Dakota and North Dakota had the lowest rates.
Excluding foreclosures, the 30-day delinquency rate fell to 6.27 percent from 6.47 percent as of Dec. 31, 2013.
As of Jan. 31, 2013, the 30-day rate was 7.03 percent.
Black Knight noted that 90-day delinquency, including foreclosures, was 4.92 percent. Serious delinquency was the lowest it’s been in more than five years.
The foreclosure pre-sale inventory rate declined to 2.35 percent in January from 2.48 percent at the end of last year and 3.41 percent at the same point last year.
Loans in the foreclosure process were delinquent an average 943 days, increasing from the previous month.
