A slight drop in the foreclosure rate was more than enough to offset a modest bump in mortgage delinquency. Serious delinquency has improved for six consecutive months.

The number of residential loans that were either delinquent at least 30 days or in the foreclosure inventory came to 2.342 million as of the midpoint of this year.

Included in the June 30 total were 1.932 million mortgages that were at least 30 days delinquent but not in foreclosure and 410,000 loans in the foreclosure inventory.

Source: Mortgage Daily