Mortgage Delinquencies Reach 6-Year Low, Near Normal Levels

January 13, 2014
U.S. Finance Post 
mortgage lending news
CoreLogic reports that all of the typical measures of mortgage distress -- serious delinquencies, foreclosures in process, and completed foreclosures -- declined in November. The U.S. delinquency rate is now 5 percent, which is the lowest level since 2008.

The research identifies the states with the most foreclosures as a percentage of mortgaged homes as Florida (6.6 percent), New Jersey (6.5 percent), New York (4.7 percent), and Maine and Connecticut (both 3.5 percent). Meanwhile, 35 states now have foreclosure inventories lower than the U.S. rate of 2.3 percent.

Fewer than 53,000 residential properties entered the foreclosure process for the first time in November -- a 10 percent decrease from the month before and 32 percent lower than November 2012. It was also the lowest level since 2005, notes RealtyTrac.

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