The fourth quarter report on mortgage delinquencies from the Mortgage Bankers Association (MBA) continues to show problem loans at historically low levels. MBA's National Delinquency Survey puts the seasonally adjusted delinquency rate at 3.77 percent of outstanding loans. This was a 20-basis point (bp) decline from the previous quarter and a 29 bps year-over-year improvement. Foreclosure starts were unchanged at a rate of 0.21 percent. "The mortgage delinquency rate in the final three months of 2019 fell to its lowest level since the current survey series began in 1979," said Marina Walsh, MBA's Vice President of Industry Analysis. "Mortgage delinquencies track closely to the U.S. unemployment rate, and with unemployment at historic lows, it's no surprise to see so many households paying their mortgage on time."