The foreclosure rate has moved lower four consecutive months. But foreclosures starts were up, and 30-day mortgage delinquency has deepened two months in a row.
At the end of May, there were 3.268 million home loans that were either a month past due or in the foreclosure pre-sale inventory.
That was 89,000 more than as of April 30. But it was an improvement of 537,000 compared to May 31, 2014.
Black Knight Financial Services
released the performance data Wednesday.
Last month’s total represented
6.45 percent of all mortgages outstanding, worsening from 6.28 percent at the close of April. It was the second consecutive month total delinquency deteriorated.
Still, residential loan servicers have improved on the 7.53 percent non-current rate as of a year earlier.
A 12.97 percent total delinquency rate in Mississippi was the worst of any state. Next was New Jersey’s 10.86 percent, then Louisiana’s 10.10 percent, New York’s 9.43 percent and Maine’s 9.40 percent.
North Dakota’s 2.21 percent rate was the lowest of any state.
The U.S. 30-day rate, excluding foreclosures, was 4.96 percent as of May 31, 2015, jumping from 4.77 percent in the previous report.
The 30-day rate was 5.62 percent in the year-earlier report.
Black Knight reported the foreclosure pre-sale inventory rate at 1.49 percent, falling from 1.51 percent at the end of April.
The foreclosure
rate has improved each month since January, when it stood at 1.61 percent.
As of May 31, 2014, the foreclosure rate stood at 1.91 percent.
Foreclosure starts rose, however, by 11 percent to 81,900 last month.
