LPS reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) increased to 6.45% from 6.28% in October. The normal rate for delinquencies is around 4.5% to 5%.
The percent of loans in the foreclosure process declined to 2.50% in November from 2.54% in October. The is the lowest level since late 2008.
The number of delinquent properties, but not in foreclosure, is down 342,000 properties year-over-year, and the number of properties in the foreclosure process is down 511,000 properties year-over-year.
LPS will release the complete mortgage monitor for November in early January.
| LPS: Percent Loans Delinquent and in Foreclosure Process | |||
|---|---|---|---|
| November 2013 | October 2013 | November 2012 | |
| Delinquent | 6.45% | 6.28% | 7.03% |
| In Foreclosure | 2.50% | 2.54% | 3.61% |
| Number of properties: | |||
| Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure: | 1,958,000 | 1,869,000 | 1,999,000 |
| Number of properties that are 90 or more days delinquent, but not in foreclosure: | 1,283,000 | 1,283,000 | 1,584,000 |
| Number of properties in foreclosure pre-sale inventory: | 1,256,000 | 1,276,000 | 1,767,000 |
| Total Properties | 4,497,000 | 4,428,000 | 5,350,000 |