The delinquency rate for U.S. mortgage loans ticked up slightly in April compared with the previous month, rising 1.84 percent to 5.62 percent, according to a new report from Black Knight Financial Services. However, delinquencies were down 9.5 percent from the same time last year. 

The foreclosure rate meanwhile continued to plummet, dropping to 2 percent, down 5 percent from March and down 36.13 percent compared with this time last year. There were 78,800 total U.S. foreclosure starts, down 10.56 percent compared with last month and down 38.2 percent compared with last year.

There were 2.82 million properties that are 30 or more days past due, but not in foreclosure, down by 51,000 from March and down 290,000 compared with last year.

The number of seriously delinquent properties, those that are 90 or more days past due but not in foreclosure, was 1.19 million, down 12,000 from March and down 207,000 compared with last year.

The top five states with the highest delinquency rate were Mississippi (13.81 percent), New Jersey (12.87 percent), Florida (11.69 percent), New York (11.01 percent) and Louisiana (10.75 percent).

Massachusetts has one of the highest serious delinquency rates in the country, with its 3.54 percent rates fifth highest in the country, just below Mississippi (5.21 percent), Nevada (3.92 percent), Rhode Island (3.73 percent), and Alabama (3.58 percent).

Black Knight: Delinquency Ticks Up Slightly, But Foreclosures Continue To Drop In April

by Banker & Tradesman time to read: 1 min
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