Sign of improvement

TransUnion's quarterly analysis of trends in the mortgage industry found that national mortgage loan delinquency rate (the ratio of borrowers 60 or more days past due) decreased in the first quarter of 2010 after steady increases for 12 consecutive quarters. The delinquency rate dropped to 6.77 percent -- a level slightly lower than in the fourth quarter of last year.

This statistic, which is traditionally seen as a precursor to foreclosure, reflects a decrease of 1.74 percent from the previous quarter's 6.89 percent average. Year over year, mortgage borrower delinquency is still up approximately 30 percent (from 5.22 percent.)

Highest mortgage borrower delinquency rates in the first quarter of 2010 continued to be highest in Nevada (15.98 percent) and Florida (14.65 percent), while the lowest mortgage delinquency rates continued to be found in North Dakota (1.76 percent), South Dakota (2.44 percent) and Nebraska (2.68 percent). Seventeen states showed increases in delinquency from the previous quarter with Alaska (+11.3 percent), New Hampshire (+6.3 percent) and Hawaii (+4.8 percent) leading the pack.

The average national mortgage debt per borrower decreased (0.47 percent) to $192,774 from the previous quarter's $193,690.

REAL Trends, Inc.