A greater than 40-basis-point reduction was made during last month in the total ratio of delinquent payments on residential loans.
Mortgage servicers finished March with 2,693,000 properties that were at least 30 days delinquent or in the process of foreclosure.
The number of non-current residential loans was down from February, when 2,907,000 mortgages were considered non-current.
Non-current loan count sank from March 31, 2015, when the total was 3,195,000.
The numbers were revealed Friday by Black Knight Financial Services Inc.
Last month’s total was comprised of
2,062,000 properties at least 30 days past due but not in foreclosure and 631,000 properties in the foreclosure pre-sale inventory.
The latest inventory put the
non-current rate at 5.33 percent, sinking from 5.75 percent as of Feb. 29, 2016.
As of the same date last year, the non-current rate was 6.25 percent.
Mississippi’s 10.80 percent non-current rate was the worst in the nation.
Next was New Jersey’s 9.07 percent, followed by 8.89 percent in Louisiana, 7.87 percent in New York and 7.77 percent in Maine.
North Dakota’s 2.02 percent rate last month was the lowest of any state.
March 2016’s thirty-day rate, excluding foreclosures, of 4.08 percent turned out to be the lowest U.S. rate since March 2007.
The 30-day rate was previously reported at 4.45 percent a month earlier and
4.70 percent a year earlier.
Loans in the foreclosure pre-sale inventory represented 1.25 percent of all activity.
Based on prior reports, the foreclosure rate was lower than 1.30 percent in February and 1.55 percent in March 2015.
