There was no monthly movement in the rate of serious mortgage delinquency. While the number of completed foreclosure was little changed, the pace remains far ahead of more normalized times.
For the second month in a row, the 90-day delinquency rate has not changed from the prior month. In August, the 90-day rate was 4.3 percent.
But there was movement compared to the same month last year, when the 90-day rate was previously reported at 5.3 percent.
CoreLogic Inc. reported the statistics.
New Jersey’s 9.3 percent 90-day rate was the highest in the nation.
Florida’s serious delinquency rate was 8.8 percent. New York was next at 7.4 percent, then Maryland’s 6.1 percent and both Connecticut’s and Nevada’s 5.7 percent.
As of Aug. 31, there were 629,000 U.S. homes in some stage of foreclosure, fewer than the revised 646,000 as of a month earlier and 936,000 as of a year earlier.
Inventory has declined 34 consecutive times on a year-over-year basis.
The foreclosure inventory rate finished August at 1.6 percent, easing from the prior month’s 1.7 percent and dropping from 2.4 percent in August 2013.
Foreclosure inventories were highest in New Jersey, where the rate was 5.8 percent.
Florida followed with a foreclosure inventory rate of 4.6 percent.
After that was 4.2 percent in New York, 3.0 percent in Hawaii and 2.7 percent in Maine.
Nebraska had the lowest foreclosure rate in the nation: 0.4 percent.
All of the five-worst states, as well as Nebraska, are judicial foreclosure states.
Servicers completed 45,000 foreclosures last month, a thousand more than the revised number for July.
Repossession have slowed considerably since August 2013, when 58,000 properties were converted to real estate owned. The year-earlier number was originally reported at 48,000.
But the pace of completed foreclosures is still running well ahead of the 21,000 monthly average between 2000 and 2006.
From Jan. 1 through Aug. 31, servicers completed 363,000 foreclosures.
