Late Payment Rate on Mortgages Falls

February 11, 2014
Associated Press 
mortgage lending news
The return of home appreciation, a strengthening job market, and mortgage modification programs have bolstered Americans' finances, allowing more of them to keep current on their home loans.

According to TransUnion, the share of mortgage borrowers two months or more behind in their payments shrank to 3.85 percent in the fourth quarter -- the lowest pace since the second quarter of 2007. The October-through-December delinquency rate was down from 4.09 percent in the previous three months and down from 5.08 percent a year earlier.

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