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Mortgage delinquency rate in Nevada falls in first quarter

The mortgage delinquency rate in Nevada fell to 9.56 percent at the end of the first quarter, a decrease of 72 basis points from the previous quarter, the Mortgage Bankers Association reported Wednesday.

Nationally, the delinquency rate for mortgage loans on one- to four-unit residential properties was 6.94 percent, down from 8.15 percent in the fourth quarter of 2011.

The delinquency rate excludes loans already in the foreclosure process.

The percentage of loans in Nevada in which foreclosure was started during the quarter fell 9 basis points to 1.33 percent, while the percentage of loans in foreclosure at the end of the quarter fell 56 basis points to 6.47 percent.

Nevada ranked third in the nation in both mortgage delinquencies and foreclosure starts.

Mississippi was first in delinquencies with a rate of 10.93 percent; Florida was first in foreclosure starts at 1.73 percent.

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