Mortgage Delinquencies And Foreclosure Rates Fall

According to Lender Processing Service’s First Look mortgage report, which covers approximately 70% of the Unites States mortgage market, foreclosures and mortgage delinquencies have dropped considerably across the U.S. The loan delinquency rate averaged 6.20% last month, down 3.31% from July, and down 10% from August 2012. Foreclosure rates have also dropped 34% year-over year, dropping to the lowest point seen in 4 ½ years, averaging 2.66%. More here