Residential loan delinquency improved from June and has tumbled more than a hundred basis points over the past 12 months. Improved performance has been less pronounced in the foreclosure category than the 30-day category.
Including loans at least 30 days late or in foreclosure, the delinquency rate on residential loans was 11.11 percent as of July 31.
The rate of past-due home loans was lower than 11.23 percent as of a month earlier.
Even more substantial, according to the data from Lender Processing Services Inc., was the decline since July 2011, when 30-day residential delinquency was 12.45 percent.
The nation’s worst delinquency rates during July were in Florida, Mississippi, Nevada, New Jersey and Illinois.
But loan performance was best in Montana, Alaska, Wyoming, South Dakota and North Dakota.
Excluding foreclosures, 3.5 million mortgages were past due with a 30-day delinquency rate of 7.03 percent. In June, 3.6 million loans were delinquent with a 7.14 percent delinquency rate.
The foreclosure pre-sale inventory rate slipped to 4.08 percent from 4.09 percent in June as the number of loans in the pre-sale inventory edged down to 2.0 million from 2.1 million.
