Bloomburg reported that the share of U.S. mortgages that are seriously delinquent plunged to the lowest level in almost five years as improving employment and rising home prices move the foreclosure crisis closer to an end.
The percentage of home loans that were more than 90 days behind or in the foreclosure process fell to 5.88 percent in the second quarter from 7.31 percent a year earlier, the Mortgage Bankers Association said in a report today. That was the lowest since the third quarter of 2008, when it was 5.17 percent.
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