A decade has elapsed since the rate of serious mortgage delinquency was as low as it was in May. The foreclosure rate also fell to a 10-year low.
As of the end of last month, there were 2.348 million single-family loans that were either 30 days past due or in the foreclosure inventory.
The number diminished from April, when 2.505 million mortgages were past due, and May 2016, when there were 2.727 million delinquent loans.
Source: Mortgage Daily