Despite the lingering effects of last years brutal hurricane season, mortgage servicers managed to cut the monthly rate of loan delinquency.
U.S. single-family loans had a 30-day delinquency rate of 4.8 percent as of Feb. 28. The reported rate reflects the foreclosure inventory.
The residential non-current rate ed-escalated from the preceding month, when delinquency of at least 30 days was a previously reported 4.9 percent.
Source: Mortgage Daily