The foreclosure rate continued to decrease in September, while the delinquency rate remained significantly lower compared to last year despite a month-over-month increase, according to data released by Lender Processing Services (LPS), a real estate technology provider.

The U.S. foreclosure presale inventory rate dropped 1.29 percent month over month in September and was down 32.18 percent year over year, LPS reported in its latest “First Look” Mortgage Report.

In all, 2.63 percent of all properties tracked by the firm, or nearly 1.33 million properties, were in the foreclosure presale inventory, according to LPS.

Meanwhile, the delinquency rate — the share of properties that are 30 days or more past due but not in foreclosure — edged up 4.23 percent in September to a rate of 6.46 percent,  accounting for nearly 3.27 million properties, LPS said.

Despite the month over month increase, the delinquency rate was still down 12.63 percent on an annual basis, according to LPS.

LPS said a total of 4.593 million properties were either delinquent or in foreclosure.

Source: LPS

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Time is running out to secure your Connect Now tickets at the lowest price. Don't miss out on a chance to grow yourself and your business.Learn More×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription