The rate of past due payments on residential loans was down last month. Also improving was the foreclosure inventory rate.
Mortgage delinquency of at least 30 days, including the foreclosure pre-sale inventory, was 7.49 percent in July.
Total home loan delinquency sank from the previous month, when the 30-day rate was 7.58 percent.
The rate of late payments has plunged from the same month last year, when it stood at 9.23 percent.
Black Knight Financial Services reported the statistics based on its loan-level database of mortgage assets, which it claims represents two-thirds of the market.
Mississippi had a non-current rate of 14.20 percent in July, more than any other state.
New Jersey’s 12.44 percent rate followed, then 10.91 percent in Florida, 10.86 percent in Louisiana and 10.77 percent in New York.
North Dakota’s 2.56 percent 30.-day rate was the lowest in the nation.
The national non-current rate included a 5.64 percent 30-day rate excluding foreclosures. The number was 5.70 percent in June, while it was 6.41 percent in July 2013.
In addition, the foreclosure pre-sale inventory rate was 1.85 percent in July, the “lowest since March 2008.”
The foreclosure rate was 1.88 percent the previous month and 2.82 percent in the same month last year.
In all, there were 2,849,000 loans past due at least 30 days but not in foreclosure, and another 935,000 in the foreclosure pre-sale inventory.
