Further improvement has been made in the performance of home loans, while the foreclosure rate and pace of repossessions moved lower.

Residential loans that were at least 90 days past due accounted for 2.5 percent of all U.S. mortgages that were outstanding as of Oct. 31.

The rate of serious mortgage delinquency turned out to be the lowest that it has been since August 2007 based on historical performance data.

Source: Mortgage Daily