The 30-day delinquency rate deteriorated last month even as the foreclosure rate eased.
Including foreclosures, residential loans delinquent at least 30 days represented 12.45 percent of the country’s collective mortgage portfolio as of July 31, Lender Processing Services Inc. reported Tuesday.
Total delinquency worsened from 12.27 percent in June, which was also higher.
It was an improvement, however, from 13.08 percent in July 2010.
When foreclosures are excluded, last month’s rate was 8.34 percent –worse than 8.15 percent in June.
Another report released Tuesday from Standard & Poor’s Ratings Service and Experian indicated that the delinquency rate fell to 1.93 percent in July from 2.02 percent the prior month. But that report reflects 90-day delinquency, which is likely to see deterioration subsequent to the increase in the 30-day rate.
The foreclosure rate, according to LPS, was 4.11 percent last month, a hair below 4.12 percent reported for June.
