Late-payment rate on mortgages tumbled in 1Q

A resurgent housing market, rising home values and steady job gains are helping more U.S. homeowners stay on top of their mortgage payments. The sharp annual decline in the mortgage delinquency rate represents the biggest quarterly drop on record for TransUnion, whose data go back to 1992. The first-quarter rate also fell 12 percent compared with the last three months of 2012, when it was 5.19 percent, a four-year low.

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