(NEW YORK) -- More homeowners are paying their mortgages on time, according to TransUnion.
The credit reporting firm says just over 6 percent of borrowers are now at least 60 days behind on their mortgage payments, and that number is expected to drop.
"We're projecting that the number of people who are 60 plus days delinquent on their mortgage will drop from about 6 percent at the end of this year to about 5 percent at the end of next year," says Steve Chaouki with TransUnion.
Chaouki says the peak was reached during the worst of the recession two years ago. Before then, the average late payment rate was under 2 percent.
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