RECAP: The mortgage delinquency rate —the rate of borrowers 60 days or more delinquent on their mortgages — declined to 2.95% in the first quarter of 2015 — the first time the variable has been below 3% since prior to the recession in the third quarter of 2007, when it stood at 2.61%. “It’s taken more than seven years, but the mortgage delinquency rate has reached pre-recession levels. We continue to see a steady decline in the mortgage delinquency rate, primarily driven by strong performance by newer vintage loans,” said Joe Mellman, vice president and head of TransUnion’s mortgage group. “It’s also encouraging to see continued delinquency rate declines for the subprime and near-prime risk groups.”)