The delinquency rate on first-lien mortgage loans on 1-4 unit residential properties fell at a seasonally adjusted rate of 4.77% in the fourth quarter ended Dec. 31. It marked the lowest level since Q3 2009. 

National Association of Home Builders economist Michael Neal stated that during the 2002-2005 period, foreclosure starts remained low and mostly steady but a gradual climb began in 2006, peaking at 1.27% in 2010. Since that high mark, foreclosure start rate of mortgages secured by 1-4 unit family homes has dropped and is now more closely aligned with the levels recorded before the economic crisis.

Not only are delinquency rates now falling but foreclosure starts rates are at their lowest level since Q2 2013.

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