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U.S. Mortgages at Least 30 Days Late Fall to 4-Year Low

The rate of U.S. mortgages that are delinquent or in foreclosure fell to a four-year low as job growth helped some borrowers catch up on payments and rising demand for homes made it easier for others to sell.

Home loans that were at least one month late or in the foreclosure process dropped to 10.3 percent of mortgages in the first quarter, down from 11.25 percent in the fourth quarter and 11.33 percent a year earlier, the Mortgage Bankers Association said in a report today.