Consumers making progress paring down debt

Five years after the bursting of the borrowing bubble, American households are getting a better handle on their debt.

The latest sign came in reports this week showing that homeowners are doing a better job keeping up with their mortgage payments. So far this year, the number of mortgage holders who are behind by two monthly payments or more has fallen 9 percent, according to TransUnion, a consumer credit rating agency. A separate survey By the Mortgage Bankers Association showed that, despite an uptick, in the second quarter, mortgage delinquencies are tracking lower than this time a year ago. 

The improved mortgage numbers come as American households generally whittle away at debt.

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