Mortgage Daily

Published On: November 18, 2011

The total late-payment rate on residential loans was better last month even though the foreclosure inventory grew. The 30-day rate improved 16 basis points, and 90-day delinquency fell 14 BPS.

Last month there were 6,298,000 mortgages that were at least 30 days past due. That included 2,210,000 loans in the process of foreclosure.

The delinquency statistics were reported Friday by Lender Processing Services Inc., which determines the figures based on a loan-level database of nearly 40 million loans.

October’s total delinquency rate, including foreclosures, worked out to 12.22 percent. The rate improved from 12.27 percent the prior month and 13.21 percent during the same month last year.

Excluding foreclosures, the 30-day rate improved to 7.93 percent from 8.09 percent in September. The 90-day rate was also better, falling to around 3.41 percent from approximately 3.55 percent.

The foreclosure inventory rate, however, climbed to 4.29 percent from 4.18 percent.

The five states with the highest total delinquency rates — Florida, Mississippi, Nevada, New Jersey and Illinois — have ranked among the five-worst states since May.

While there was a little jockeying among the five states with the lowest rates — Montana, Wyoming, South Dakota, Alaska and North Dakota — they all were among the five best performers in October.

FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator

Tags

Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Days with Today’s Latest Rates

Mortgage

Today’s rates starting at

4.63%

5/1 ARM
$200,000 LOAN

Home Refinance

Today’s rates starting at

4.75%

30 YEAR FIXED
$200,000 LOAN

Home Equity

Today’s rates starting at

3.99%

3 YEAR
$200,000 LOAN

HELOC

Today’s rates starting at

2.24%

30 YEAR FIXED
$200,000 LOAN