Thursday, January 28, 2010

Freddie Mac: Delinquencies Increase Sharply in December

by Bill McBride on 1/28/2010 11:04:00 AM

Here is the monthly Freddie Mac hockey stick graph ...

Freddie Mac Seriously Delinquent Rate Click on graph for larger image in new window.

Freddie Mac reported that the rate of serious delinquencies - at least 90 days behind - for conventional loans in its single-family guarantee business increased to 3.87% in December 2009, up from 3.72% in November - and up from 1.72% in December 2008.

"Single-family delinquencies are based on the number of mortgages 90 days or more delinquent or in foreclosure as of period end ..."

Just more evidence of the growing delinquency problem, although some of these loans may be in the trial modification programs and are still included as delinquent until they become permanent.

Fannie Mae should report soon ...

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