Foreclosures Rise, Mortgage Delinquencies Decline 11/2010

Foreclosures on the rise in November however mortgage delinquences decline

A “first-look” report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data, is somewhat encouraging as it shows the U.S. mortgage delinquency rate (not including foreclosures) for October was 9.02 percent which is a decrease of almost 3 percent from October’s rate of 9.29 percent.

On the other hand, the foreclosure rate for November was 4.08 percent, a 4.0 percent increase from October and an 8.0 percent increase from a year ago.

I still expect it will be some time before the foreclosure rate levels off and eventually starts to recede due to the number of them “in the pipeline”, however, the declining mortgage delinquency rates point to declining foreclosure rates in the future…hopefully sooner than later.

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure):	9.02%
Month-over-month change in delinquency rate:	-2.9%
Year-over-year change in delinquency rate:	-15.6%
Total U.S. foreclosure pre-sale inventory rate:	4.08%
Month-over-month change in foreclosure presale inventory rate:	4.1%
Year-over-year change in foreclosure presale inventory rate:	8.0%
Number of properties that are 30 or more days past due, but not in foreclosure: (A)	4,768,000
Number of properties that are 90 or more days delinquent, but not in foreclosure:	2,161,000
Number of properties in foreclosure pre-sale inventory: (B)	2,157,000
Number of properties that are 30 or more days delinquent or in foreclosure: (A+B)	6,925,000
States with highest percentage of non-current* loans:	FL, NV, MS, GA, NJ
States with the lowest percentage of non-current* loans:	MT, WY, AK, SD, ND

via realestateinvestordaily.com

Posted via email from RealtorPeg