TransUnion, whose data sample comes from 27 million anonymous consumer records, reported that 6.41 percent of homeowners were at least 60 days late on their mortgage payments in the fourth quarter of 2010. This is fourth consecutive quarterly decline since the 6.89 percent peak in the fourth quarter of 2009.

TransUnion's data is an especially important indicator at this time as analysts try to make sense of the skewed data of foreclosed homes resulting from the "foreclosure moratorium." Banks temporarily ceased foreclosure activity as they reviewed and revised their foreclosure processes in the wake of the "robo-signing" mess. Although banks have resumed foreclosure activities, this temporary bottleneck altered the volume of foreclosure sales as fewer bank owned homes hit the real estate market.

Larger banking institutions have predicted prices will continue to fall nationally in the first half of 2011, and analysts believe these predictions stem from the banks planning to release a larger volume of housing inventory to the market. If prices fall then the risk rises for "strategic defaults" from homeowners underwater on the value of their home. So, TransUnion's report is especially promising at this time because it presents a counter balance to the possibility of increased strategic defauls due of prices slipping further.

Altogether, this is just another microcosm of the nation's recovery… positive economic news battling lingering concerns as the economy trudges ahead.