Fewer American's are delinquent on their mortgage, the Mortgage Bankers Association reported.
During the last three months of 2011, 7.58 percent of mortgage borrowers didn't make their loan payments on time down 0.7 percentage points from a year earlier, CNNMoney said citing the MBA. The rate is down 2.5 percentage points from the peak in 2010.
"That's a pretty sustainable decline," Mike Fratatoni, the MBA's Vice President for Single-Family Research and Policy told CNNMoney. "We're about halfway back from the peak."
The improvement in mortgage performance has reflected improvements in jobs and the broader economy, Jay Brinkmann, chief economist at the MBA, told CNNMoney.