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.
Source: “Loan Delinquency Continues to Improve, Falling 2.11% Last Month,” Mortgage News Daily (June 25, 2013)