The percentage of U.S. residential mortgages that were delinquent or in foreclosure edged down in the first quarter from the same quarter a year earlier, thanks to an improving economy, a mortgage industry group said on Tuesday.
At the end of the first quarter, the mortgage delinquency rate was 4.31 percent, down from 4.46 percent in the same quarter of 2004 and down from 4.38 percent at the end of the fourth quarter of last year, the Mortgage Bankers Association said.
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