US mortgage delinquency rates fell to a new low in the second quarter.

This was as a result of a robust job market and lower interest rates prevailing on most home loans, despite the big jump in mortgage rates over the last two years.

The US Mortgage Bankers Association’s National Delinquency Survey showed delinquency rates fell to 3.37 per cent at the end of June.

This is their lowest since the MBA began collecting data in 1979.

The quarter’s result is down from 3.64 per cent a year earlier.

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