A bigger share of home loans were current last month, while the foreclosure rate also saw an improvement.
Borrowers who were at least 30 days past due or in the process of foreclosure as of Aug. 31 accounted for 8.86 percent of the collective U.S. book of residential loans, Lenders Processing Service Inc. reported Thursday.
The 30-day delinquency rate tumbled 37 basis points from a month earlier.
In the same month during 2012, one-month delinquency on residential loans was much higher at 10.91 percent.
The most recent rate reflected 4,465,000 past-due home loans.
The highest rates of delinquency in August were in Florida, Mississippi, New Jersey, New York and Maine, according to LPS.
Montana, Colorado, Wyoming, South Dakota and North Dakota had the lowest delinquency rates.
Last month’s total U.S. delinquency reflected a 6.20 percent 30-day rate excluding foreclosures, off from 6.41 percent in July and 6.87 percent in August 2012.
The latest month also included a 2.66 percent presale foreclosure inventory rate, improving from 2.82 percent a month earlier and sinking from 4.04 percent a year earlier.
