U.S. Mortgage Delinquencies Fall to Lowest Since 2007

The U.S. mortgage delinquency rate fell to the lowest in almost eight years as the job market strengthened and rising home values gave struggling borrowers a chance to sell.

Loans that were at least 30 days late dropped to 5.54 percent in the first quarter from 6.11 percent a year earlier, the Mortgage Bankers Association said in a report Wednesday. The share was the lowest since the second quarter of 2007.