A new report on October delinquency and foreclosure data from the data and analytics division of Black Knight Financial Services found that the U.S. delinquent inventory decreased by 119,000 from September, a drop of more than 10 percent. Foreclosure inventory is currently at its lowest level since February 2008.

The total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) was 5.44 percent in October, down 4.1 percent from September and down 13.4 percent compared to October 2013.

The total U.S. foreclosure inventory rate was 1.69, down 3.9 percent from September and down 33.5 percent from October 2013. There were 81,000 total U.S. foreclosure starts last month, down 10.6 percent compared with September, and down 31.5 percent compared with October 2013.

There were 2.759 million total delinquent properties across the country in October, down 119,000 from September and down 393,000 from the same time last year. Of those, 1.101 million were seriously delinquent, that is, 90 days or more past due. That number is down 17,000 from September and down 182,000 from the same time last year.

There were 858,000 properties in the foreclosure pre-sale inventory, down 35,000 from September and down 418,000 from the same time last year.

The top five states with the highest number of delinquent loans were Mississippi (13.83 percent), New Jersey (11.78 percent), Louisiana (10.74 percent), New York (10.33 percent) and Florida (10.17 percent).

The top five states with the highest number of seriously delinquent (90 or more days past due) loans were Mississippi (5.21 percent), Rhode Island (3.55) percent, Alabama (3.53 percent), Louisiana (3.49 percent) and Arkansas (3.19 percent).