The number of seriously delinquent residential mortgages (at least 90 days past due) fell in January to 1.58 percent after three consecutive months of increased delinquency, according to S&P/Experian Consumer Credit Default Indices released Feb. 19, Mortgage Daily reported.

The rate was down from December when 90-day delinquency was 1.68 percent, and also down from a year prior, when the rate was 2.08 percent, Mortgage Daily reported. Until the January data was reported, first-mortgage delinquency had increased every month since September. 

The data revealed that second-mortgage delinquency held steady at 0.69 percent from December to January; but the rate had improved significantly from a year earlier when serious delinquency was 1.30 percent.