The U.S. delinquency rate on mortgages continues to fall, marking a positive sign for the housing recovery. The delinquency rate fell 2.11 percent in May and is 12.01 percent below year-ago levels, according to “first look” mortgage performance data from Lender Processing Services. LPS will issue its detailed report in early July.
The delinquency rate is 6.08 percent, with about 3 million properties that are 30 or more days past due on their mortgage payments but not yet in foreclosure.
Meanwhile, there are about 1.5 million homes in some stage of foreclosure, according to LPS. Are you seeing this in your region? Please comment!
More information at source: “Loan Delinquency Continues to Improve, Falling 2.11% Last Month,” Mortgage News Daily (June 25, 2013)