Foreclosure activity slipped last month. but there was a much bigger improvement made on the share of loans that are at least a month past due.
U.S. mortgage borrowers who were delinquent on their loans or in the foreclosure pre-sale inventory numbered approximately 3,688,000 in December.
The total included roughly 2,868,000 mortgages that were at least 30 days past due and another 820,000 that were on the way to foreclosure.
The non-current delinquency rates slid to 7.25 percent from 7.71 percent a month earlier and 8.95 percent a year earlier.
Mississippi’s 14.18 percent non-current rate was the highest in the nation. Next was New Jersey’s 11.90 percent, followed by Louisiana’s 11.06 percent, New York’s 10.39 percent and Rhode Island’s 10.16 percent.
With a non-current rate of 2.38 percent, North Dakota’s was lower than any other state.
Excluding foreclosures, the U.S. 30-day rate tumbled 44 basis points from November to 5.64 percent. An 83-basis-point reduction has been made from the end of 2013.
The foreclosure rate slipped 2 BPS to 1.61 percent as of year-end 2014. The rate was 2.48 percent at the same point in 2013.