Delinquencies, Foreclosures Decline in Q3

Washington, DC, Nov. 15, 2012 -- Mortgage delinquencies and home foreclosures declined during the third quarter, the Mortgage Bankers Association said.

The delinquency rate, which includes mortgages that are past due but not yet in foreclosure, fell to 7.4% during the third quarter, down from 7.58% in the second quarter and 7.99% in the third quarter of last year.

The percentage of mortgages in the foreclosure process was 4.07%, down from 4.27% in the second quarter and 4.43% a year ago.

The percentage of properties entering the foreclosure process hit its lowest level since 2007.

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