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The U.S. unemployment rate has fallen a full percentage point since August to 8.1 percent last month
-- the lowest level since January 2009. Hiring has strengthened, despite posting weaker-than-anticipated gains in March and April. And the economy grew at an annual rate of 2.2 percent in the first quarter, aided by stronger consumer spending. And while sales of previously owned homes fell in March, a mild winter drove gains in January and February making this year's winter the best for home sales in five years. As long as the economy, housing market and jobs outlook continue to improve, it's likely fewer homeowners will fall behind on their mortgage payments, Martin said. Another factor: Loans made between 2008 and 2011, after the housing crisis had begun, have a lower delinquency rate than older loans. "As time goes on, they become a bigger and bigger percentage of the total, so that helps bring the rates down as well," Martin said. All but eight states saw their mortgage delinquency rate decline in the first quarter versus the last three months of last year: Montana, Hawaii, Maine, North Dakota, New York, Maryland, Washington and Delaware. Florida led the nation with the highest mortgage delinquency rate of any state at 13.87 percent, down from 14.27 in the fourth quarter of last year. The Sunshine State wasn't the only foreclosure hotbed where mortgage delinquency improved in the first quarter. The mortgage delinquency rate in Arizona was 6.86 percent, down from 7.50 percent in the fourth quarter of 2011. California's declined to 6.66 percent from 7.14 percent, while Nevada's fell to 11.16 percent from 12.08 percent.
[Associated
Press;
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