A monthly improvement was reported for serious mortgage delinquency, the rate of foreclosures and completed foreclosures.
The rate of 90-day delinquency on the nation’s book of residential loans closed out the month of July 2016 at 2.9 percent.
Serious mortgage delinquency declined to its lowest level since May 2016, when it was previously reported at 2.8 percent.
Those facts and figures were delivered Tuesday by CoreLogic Inc. in its National Foreclosure Report July 2016.
CoreLogic previously reported 90-day delinquency at 2.8 percent as of June, though that number has apparently been revised higher.
Serious mortgage delinquency was previously reported at 3.4 percent as of July 31, 2015.
New Jersey, the 90-day rate was 6.4 percent — the worst of any state. After that was 5.5 percent in New York; 4.8 percent in Florida; 4.4 percent in Mississippi; and 4.1 percent in Maryland, Maine and Nevada.
North Dakota shared the lowest past-due rate with Colorado: 1.1 percent.
As of July 31, 2016, there were approximately 355,000 U.S. homes in some stage of foreclosure, fewer than a downwardly revised 370,000 a month earlier.
The foreclosure inventory was an upwardly revised 501,000 as of the same date in 2015 — making the latest drop the 57th consecutive year-over-year decline.
The most-recent foreclosure inventory put the U.S. rate of foreclosures at 0.9 percent, “the lowest for any month since August 2007.”
At the same point last year, the foreclosure rate was an upwardly revised 1.3 percent.
July 2016’s foreclosure rate was highest in New Jersey: 3.3 percent. Next was New York’s 3.0 percent, then 1.8 percent in Hawaii, Maine and Washington, D.C.
The lowest foreclosure rate — 0.3 percent — was shared by five states: Colorado, Minnesota, Utah, Arizona and Alaska.
Mortgage servicers successfully completed 34,000 U.S. foreclosures, slipping from a downwardly revised 36,000 in June.
But the pace of repossessions remains well above the monthly average of 21,000 between 2000 and 2006.
In July 2015, an upwardly revised 41,000 real-estate-owned filings were made.
For the seven months ended July 31, 2016, there were 240,000 REO filings.