Monthly mortgage delinquency tumbled, and further declines are expected except in the Aloha State and the Mid Atlantic. Serious delinquency was the lowest it’s been in more than a decade.

Residential loans delinquent at least a month, including mortgages that are in the foreclosure inventory, accounted for 4.1 percent of all loans as of July 31.

U.S. mortgage delinquency improved by 20 basis points versus one month previous. Compared to the same month last year, the non-current rate has descended by 60 BPS.

Source: Mortgage Daily