The national rate of mortgage delinquency dropped to 6.44 percent in the third quarter of the year, down from 6.67 percent in the second quarter, according to the latest statistics from TransUnion. That’s a decline of 3.45 percent, the steepest observed since the fourth quarter of 2006. However, that rate is still 3.04 percent higher than it was through the end of the third quarter last year, when it was at 6.25 percent.
During the third quarter, trends at the state level held more or less in line with what they have since the housing trouble began, the report said. Nevada continues to lead the nation in delinquencies with 15.12 percent of homeowners behind on their bills, while Florida was second at 14.63 percent. On the other hand, North Dakota had the lowest delinquency rate in the country at 1.52 percent. South Dakota was second at 2.24 percent, and Nebraska rounded out the top three at 2.61 percent.
Similarly, 10 states saw delinquencies increase in the third quarter, the report said. Maine, Kansas and West Virginia led the way in that regard.
Many consumers have had trouble paying their mortgage bills since the beginning of the national recession, which has been exacerbated by falling property prices making the size of their loans worth more than the house’s value.
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