Serious mortgage delinquency and the foreclosure rate moved lower on a month-over-month basis, while both metrics — along with the non-current rate — improved on a year-over-year basis.

Delinquency of at least one month on U.S. loans that are secured by single-family properties was 4.2 percent as of May. The rate included loans that are in foreclosure.

The non-current rate had no movement compared to one month previous. But it did show an improvement versus the same 31-day period last year, when it was 4.5 percent.

Source: Mortgage Daily