Mortgage delinquencies in the Twin Cities declining rapidly

In yet another sign of improving fortunes for the housing market and broader economy, fewer Twin Citians are falling behind on their mortgage payment. CoreLogic said this morning that during March, only 1.96 percent of mortgage loans were 90 days or more delinquent compared to 2.49 percent for the same period last year.

The foreclosure rate is on the decline, as well, falling to 0.48 percent during March compared with 0.55 percent last year. Nationwide, the foreclosure was down, as well, slipping to 1.39 percent.