Despite hurricane-related deterioration in the rate of mortgage delinquency, the rate of serious delinquency and foreclosures stand at the lowest level in decades.
Single-family loans that were at least 30 days’ delinquent or in the foreclosure inventory accounted for 5.0 percent of all U.S. mortgages outstanding as of Sept. 30.
The rate deteriorated compared to one month earlier, when it was a previously reported 4.6 percent. The rise reflected a 40-basis-point jump in early stage delinquency.
Source: Mortgage Daily