Delinquencies are continuing to decline, with a massive drop-off in foreclosure stock.
New data from Lender Processing Services (LPS) shows a significant drop in delinquencies. July has seen a month-over-month decline in delinquencies of 3.96%, while delinquecies fell 8.76% since July last year. Nationwide, 6.41% of loans are delinquent, but not in foreclosure.
Foreclosure stocks are also down markedly. The foreclosure presale inventory rate fell 30.76% since July 2012.
LPS data indicated that the states with the highest percentage of non-current loans (the total combination of foreclosures and delinquencies) were Fla., Miss., N.J., N.Y. and Maine, while the states with the lowest proportion of non-current loans were Wyo., Mont., Alaska, N.D. and S.D.