Fitch: Early-stage mortgage arrears fall to below 2%

Early-stage mortgage arrears have fallen below 2% for the first time in three-and-a-half years, according to ratings agency Fitch.

The data shows that the burgeoning economic recovery is helping homeowners one or two months behind on their payments to claw their way out of mortgage arrears.

The Fitch RMBS Compare report warns, however, that the disparity between the best and worst performing mortgage portfolios has never been greater as the improving situation has failed to lift all loans.