Freddie Mac: Mortgage Serious Delinquency Rate Decreased in June – Info Risk Manage
by Bill McBride on 7/26/2018 04:43:00 PM
Freddie Mac reported that the Single-Family serious delinquency rate in June was 0.82%, down from 0.87% in May. Freddie’s rate is down from 0.85% in June 2017.
Freddie’s serious delinquency rate peaked in February 2010 at 4.20%.
This is the lowest serious delinquency for Freddie Mac since April 2008.
These are mortgage loans that are “three monthly payments or more past due or in foreclosure”.
Click on graph for larger image
The increase in the delinquency rate late last year was due to the hurricanes – no worries about the overall market (These are serious delinquencies, so it took three months late to be counted).
After the hurricane bump, maybe the rate will decline to a cycle bottom in the 0.5% to 0.8% range – but this is close to a bottom.
Note: Fannie Mae will report for June soon.
Article Prepared by Ollala Corp