Nationally, 4.5
percent of mortgages were in some stage of delinquency (30 days or more past
due including those in foreclosure) in May 2017. This represents a 0.8
percentage point decline in the overall delinquency rate compared with May 2016
when it was 5.3 percent.
As of May 2017, the foreclosure inventory rate, which
measures the share of mortgages in some stage of the foreclosure process, was
0.7 percent compared with 1 percent in May 2016. The serious delinquency rate,
defined as 90 days or more past due including loans in foreclosure, was 2
percent, unchanged from April 2017 and down from 2.6 percent in May 2016. The 2
percent serious delinquency rate in April and May this year was the lowest
since November 2007 when it was also 2 percent.
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