Delinquencies Increase in September, Number of Loans in Foreclosure Lowest Since 2009

October 23, 2013
Banker & Tradesman 
mortgage lending news

The share of home loans in foreclosure slid last month to the lowest level since January 2009, reports Lender Processing Services, but mortgage delinquencies continued to pile up. The foreclosure rate settled at 2.63 percent in September, down 1.3 percent from the month before and 32.2 percent lower than in September of last year.

Meanwhile, 6.46 percent of loans were at least 30 days past due last month compared to 6.2 percent that were delinquent in August. On an annual basis, however, delinquencies fell 12.6 percent.

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