Although the rate of home loans in the foreclosure process improved during the first month of this year, a sharp increase in 30-day delinquency was reported.
Mortgage borrowers who were past due at least 30 days on their residential loans or in the process of foreclosure numbered 3,234,000 in January 2016.
Compared to the final month of last year, 137,000 more loans were considered non-current, though the total dropped 415,000 from the first month of last year.
The data were reported by Black Knight Financial Services.
Total non-current loans included 659,000 loans in the foreclosure pre-sale inventory.
The most-recent total count brought the non-current rate to 6.39 percent, deteriorating from
6.15 percent in December.
Delinquency, however, retreated from 7.17 percent in January 2015.
At 13.00 percent, Mississippi had the highest non-current rate of any state last month. Louisiana’s 10.49 percent was No. 2. After that was 10.38 percent in New Jersey, 9.25 percent in Alabama and 9.19 percent in West Virginia.
North Dakota’s 2.41 percent was the lowest non-current rate in the nation.
Excluding foreclosures, the U.S. 30-day rate was 5.09 percent in January 2016 — the first time in 11 months that the rate moved above 5 percent.
Thirty-day delinquency rose from 4.78 percent a month earlier and 5.56 a year earlier.
But the foreclosure pre-sale inventory rate was 1.30 percent, lower than 1.37 percent in December 2015 and 1.61 percent in January 2015.
