Loan Delinquencies Drop for Homeowners

The number of U.S. homeowners who fell behind on mortgage loan payments declined during the final three months of 2001, according to a survey by the Mortgage Bankers Assn. of America.

The delinquency rate for mortgage loans on one- to four-unit houses was 4.65%, down from the third quarter’s rate of 4.87%. That was the first drop since the first quarter of last year.