Arizona's mortgage improvement fastest in U.S.

Delayed mortgage payments are decreasing faster in Arizona than in any other state, indicates a new report. Arizona delinquencies on past-due home loans fell by one-fourth over the 12 months ending in March, reports credit-researcher TransUnion. That gave Arizona the nation's best delinquency-improvement rate, though the percentage of past-due home loans here remains above the national average, TransUnion said Wednesday. Arizona's mortgage-delinquency rate fell to 6.86 percent at the end of March, down from 9.14 percent one year earlier. The U.S. mortgage-delinquency rate also improved, falling to 5.78 percent at the end of March from 6.19 percent a year earlier. The new national rate is the lowest since the first quarter of 2009. TransUnion defines delinquencies as the percentage of borrowers who are 60 or more days past due and extracts the information from individual credit reports, about 27 million in total.

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