The delinquency rate on first-lien mortgage loans on 1-4 unit residential properties decreased at a seasonally adjusted rate of 4.77% for 4Q 2015, their lowest level since 3Q 2009. National Association of Home Builders economist Michael Neal reports on this decrease, which is also reflected on a not-seasonally adjusted basis.

Not only are delinquency rates falling, but foreclosure starts rates are at their lowest level since 2Q 2013:

During the period including 2002 to 2005, the foreclosure starts rate remained low and relatively steady, however, it began a sustained climb beginning in 2006, peaking at 1.27% in 2010. Since peaking in 2010, the foreclosure starts rate of mortgages secured by 1-4 unit family homes has fallen and is now more closely aligned with the levels recorded prior to the crisis.