According to Lender Processing Services, the national delinquency rate continued to decline during March, furthering the trend seen throughout 2011 thus far.
Lender's First Look report discovered the rate now sits at 7.8 percent, a down 11.6 percent from February's total. March's percentage still represents rough 4.1 million homes nationwide that are more than 30 day past due on their credit card bills. Of this figure, close 2 million are in "serious delinquency" – 90 days past due.
Compared to March of last year, the rate is down 19.4 percent overall.
Lender's also discovered that there are roughly 2.2 million residences in the home foreclosure pre-sale inventory, or 4.21 percent overall. This figure is a 1.4 percent increase from February and 11 percent rise from March 2010.
In January, Florida had the greatest percentage of noncurrent loans. Nevada, Mississippi, New Jersey and Georgia followed. On the other hand, Montana, Wyoming, Alaska, South and North Dakota had the least percentage.
- Unemployment claims trend in positive direction
- Existing home sales bounced back in March
- March home sales climbed in California
- Handful of cities beating trend of declining prices
- Delinquency improvement continued near end of 2010