Delinquency rates on mortgage loans across the country continued to decline in the third quarter, according to a recent release from the Mortgage Bankers Association.

The delinquency rate for mortgage loans on one- to four-unit residential properties was 4.63 percent on a non-seasonally adjusted basis, down one basis point from 4.64 percent in the second quarter of 2016. The seasonally adjusted delinquency rate on residential properties was 4.52 percent in Q3, down 14 basis points from last quarter’s seasonally adjusted rate. The non-seasonally adjusted percentage of loans on which foreclosure was started during the quarter decreased two basis points to 0.30 percent, while the non-seasonally adjusted percentage of loans in the foreclosure process at the end of the quarter decreased nine basis points to 1.55 percent.