Fewer Delinquent Mortgages in the United States

mortgage rates

The mortgage delinquency rate in the United States was 5.64% in July 2014. It experienced a slight decline on a monthly basis. It was 5.70% during the previous month. The rate measures the share of home loans which are over 30 days past due, but still not in foreclosure. The data is compiled by Black Knight Financial Services, one of the major companies processing mortgage transactions, in their Mortgage Monitor Report for July 2014.

The mortgage delinquency rate dropped down by 0.03% on a monthly basis. On an annual basis is went down by 12.07%. The rate of home loan delinquency has been following a downward trend since January 2010 when it reached 10.57%, its highest level since BKFS started compiling its mortgage report in 1995. At present, the delinquency rate is 1.37% higher than its historic low of 4.27% reached in December 2005.

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The foreclosure pre-sale inventory rate, which indicates the share of mortgages in foreclosure process, was 1.85% in July 2014. It declined by 1.65% from June. It was 34.44% lower compared to July 2013.
In July 2014, 1,713,000 properties were over 30 days but less than 90 days past due on their mortgage loan and not in the process of foreclosure. 1, 136,000 properties were over 90 days past due on their mortgage loan, but not in the process of foreclosure. 935,000 properties had mortgage loans in foreclosure process.

The total number of properties with delinquent mortgage or with mortgage in foreclosure was 3,785,000. This accounts for a rate of loans in delinquency and foreclosure of 7.49%. In July 2013, the number of properties with delinquent loan or loan in foreclosure was 4,599,000.

The rate of new problem home loans was 0.61% in July 2014. It is nearly five times lower than its peak of 2.89% which was reached in January 2009. It is now back to its level from 2005 and 2006 and close to the average of 0.55% which was reached in the period from 2000 to 2004.



Christian Calvin mortgage Christian is a contributing writer for Mortgage.info. He is a graduate from the University of Tennessee with a degree in Communications and a concentration in Broadcasting. Christian has served as vice-president for a privately-held company for more than 20 years. Additionally, he has also applied his writing and business knowledge to various websites with a focus on business and sports news . . . both of which are passions. Christian enjoys playing golf and spending time with his family and friends.

Contact: christian@mortgage.info

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