Although the volatile early stage mortgage delinquency rate turned sharply higher, other performance metrics were better and are likely to continue improving.

Thirty-day delinquency on single-family loans, including mortgages that are in the foreclosure inventory, was 4.8 percent as of April 30.

The non-current rate deteriorated compared to the preceding month when it was 4.4 percent — the lowest level since back in March 2007.

Source: Mortgage Daily