More homeowners paid their mortgages on time in the third quarter of 2014 compared to the third quarter of 2013, according to the national consumer data firm TransUnion.

TransUnion reported in its latest mortgage report the percentage of borrowers at least 60 days late fell for the 11th straight quarter to 3.36% as of Sept. 30. The mortgage delinquency rate has declined nearly 17% in the last year (down from 4.03% in Q3 2013), the firm said.

Some of the nation's largest markets saw the biggest drops, TransUnion said.

Between Q3 2013 and Q3 2014, Miami (-31.6%), San Francisco (-28.6%), Phoenix (-27.1%) and Los Angeles (-24.2%) experienced major improvements in delinquency. Of the largest markets, only two did not have double-digit declines: New York (9.9%) and Philadelphia (-9.4%), TransUnion added.

“While mortgage delinquency rates remain elevated relative to historic norms, they are steadily improving,” Joe Mellman, vice president of mortgage in TransUnion's financial services business unit said. “New mortgage cohorts over the past several years have been squeaky clean from a risk perspective. This fact, combined with the continuing clearance of the foreclosure backlog and the gradual but steady rise in home values, serves to drive the ongoing trend toward lower mortgage delinquency rates overall.”

TransUnion pointed out that mortgage delinquency rates for Los Angeles (2.53%) and Phoenix (2.47%) are now nearly one full percentage point below the national average of 3.36%.

This is remarkable, Transunion observed, because for much of 2009 and 2010 those areas had delinquency rates that exceeded 10%, whereas the national average never breached the 7% mark.

“It's especially heartening to see major declines in areas that were hardest hit by the mortgage crisis,” Mellman continued. “In part, it speaks to the broader rebound in the economy. As unemployment continues its decline and home values improve, consumers have both greater wherewithal and motivation to stay current on their housing payments.”

TransUnion added that on a quarterly basis, all 50 states and the District of Columbia experienced declines in their mortgage delinquency rates between Q3 2013 and Q3 2014. Nevada (-29.0%), Florida (-28.8%) and California (-26.5%) saw the biggest declines.

“This is another positive as declines are occurring nationwide and not only in isolated geographic pockets,” Mellman said.