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Monday, August 23 2010 - By Becky Harris
North Dakota not only has the country's best economy, but also the lowest rate of delinquent mortgage borrower
Certain economic factors - including mortgage delinquency rate - could indicate which states are better destinations for homeowners who are moving.
Nationally, fewer homeowners are falling 60 days or more behind on their mortgage payments, with the national deliquency rate down 1.48 percent from the first quarter, according to TransUnion. But certain regions are reporting better delinquency rates than others, showing that homeowners in some states are having a much harder time staying current on their monthly mortgage payments. North Dakota had the country's lowest delinquency rate at just 1.61 percent. South Dakota wasn't far behind, posting a rate of just 2.23 percent. Meanwhile, Nevada's rate pulled up the rear at a bloated 15.86 percent. Additionally, 15.02 percent of homeowners in Florida were 60 days or more behind on their mortgage. Moving to a state with a lower delinquency rate could appeal to some consumers. Delinquencies are usually a precursor to foreclosure, according to TransUnion, and high rates of foreclosed properties can sometimes lower home values in surrounding areas. Perhaps not by coincidence, North Dakota is the state with the country's strongest job market, according to Portfolio.com. Nevada again finished last in this ranking.
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