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Foreclosure Inventory On The Decline But Trend May Be Short-Lived

dennis-norman-realtorThe foreclosure inventory in the U.S. dropped to 3.51 percent in November, a decline of 2.84 percent from the month before, according to the November Mortgage Monitor report released by Lender Processing Services. This trend may not continue though as, during the same period, the mortgage delinquency rate (the precursor to foreclosures) increased 1.2 percent from the month before and has increased 3.7 percent since August.

Total U.S. loan delinquency rate: 7.12%
Month-over-month change in delinquency rate: 1.2%
Total U.S. foreclosure pre-sale inventory rate: 3.51%
Month-over-month change in foreclosure pre-sale inventory rate: -2.84 %
States with highest percentage of non-current* loans: FL, NJ, MS, NV, NY
States with the lowest percentage of non-current* loans: MT, WY, SD, AK, ND
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