Data compiled by the Mortgage Bankers Association shows that the share of home loans at least 90 days past due or in the foreclosure process declined to 5.88 percent in the second quarter, down from 7.31 percent a year earlier. For loans at least one payment in the red, the delinquency rate hit its lowest point in five years. "For most of the country, delinquencies and foreclosures have returned to more normal historical levels," explains MBA chief economist Jay Brinkmann. The volume is even improving in some of the most-affected states, he adds, including Florida -- where the foreclosure rate has narrowed to 10 percent from 14.5 percent two years ago. Foreclosure starts declined or were flat in 43 states during the second quarter, MBA reports.
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