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The Boston Globe


Late mortgage payments decline to a five-year low

LOS ANGELES — Fewer homeowners are falling behind on mortgage payments, aided by rising home values, low interest rates, and job gains. The late-payment rate in the third quarter to a five-year low, the credit reporting agency TransUnion said Tuesday.

The percentage of mortgage holders at least two months behind fell to 4.09 percent from a revised 5.33 percent a year earlier and from 4.32 percent in the second quarter. The last time the rate was lower was the third quarter of 2008.

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