by Bill McBride on 5/01/2010 11:57:00 AM
Saturday, May 01, 2010
Note: Freddie Mac reported the serious delinquency rate decreased in March from February, but that is only after the previous months were revised higher. Also there might be some distortion from the modification program - loans in trial mods were considered delinquent until the modifications were made permanent.
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 decreased to 4.13% in March 2010, down from 4.20% in February - and up from 2.41% in March 2009.
"Single-family delinquencies are based on the number of mortgages 90 days or more delinquent or in foreclosure as of period end ..."
The data from Fannie Mae will be released next week ...