Mortgage performance metrics continued to make headway in all categories on a year-over-year basis. But repossessions moved up on a month-over-month basis for the second consecutive month.
Mortgages that were past due at least 90 days accounted for 4.3 percent of all U.S. home loans as of June.
The serious delinquency rate retreated from a month earlier, when it stood at 4.4 percent. An even bigger improvement was made compared to the same month last year, when 90-day delinquency was 5.6 percent.
The performance data was provided by CoreLogic Inc.
The highest 90-day delinquency rate was shared by Florida and New Jersey: 9.3 percent. After that was 7.4 percent in New York, 6.2 percent in Maryland and 6.1 percent in Nevada.
The best loan performance was in North Dakota, where the rate of serious delinquency was only 1.1 percent.
The report indicated that roughly 648,000 homes were in some stage of foreclosure, fewer than the revised 674,000 during May and a far smaller inventory than 998,000 as of June 2013.
It was the 32nd month in a row that the foreclosure inventory was down on a year-over-year basis.
That left the foreclosure inventory rate at 1.7 percent, the same as was previously reported for a month earlier. The foreclosure rate, however, plunged from 2.5 percent a year earlier.
New Jersey’s 5.7 percent foreclosure inventory rate was worse than any other state but better than 5.8 percent previously reported for May. Florida’s 5.0 percent followed. Next was New York’s 4.3 percent, Hawaii’s 3.1 percent and Maine’s 2.7 percent.
Alaska and Nebraska shared the lowest rate in the nation: 0.4 percent.
Mortgage servicers completed 49,000 foreclosures in June. The number of repossessions increased by 1,000 from the revised total in May — when REO filings soared 16.2 percent — but has subsided from the revised 54,000 in June 2013.
CoreLogic kept activity in perspective, however, by highlighting the 21,000 average monthly REO rate between 2000 and 2006.
During the first-half 2014, completed foreclosures totaled 275,000.
