National mortgage delinquencies rise during July

Mortgage delinquencies nationwide increased during July.According to a report conducted by Lender Processing Services, the national rate of mortgage delinquencies grew during July.LPS' First Look Mortgage report revealed 8.34 percent of the nation's mortgages in July were at least 30 days past due, an increase of 2.4 percent from June. Compared to the previous year, the rate is down 10.4 percent, however.Of the 40 million loans the Jacksonville, Florida-based company surveyed, 4.4 million were at least 30 days past due, while 1.89 million of this total were more than 90 days late. Incorporating foreclosures, the total number of delinquent mortgages rose to 6.5 million.Florida, Mississippi, Nevada, New Jersey and Illinois had the most delinquent loans during the month, while Montana, Wyoming, Alaska and South and North Dakota had the fewest.The report also showed the national pre-sale inventory rate rose to 4.11 percent during July, which is a 9.7 percent surge from last year, but a decrease of 0.4 percent from June.A recent report from the Houston Association of Realtors the total number of foreclosed Houston properties pushed the region's inventory to 7.6 months worth of supply.Courtesy of 2M Realty News

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