by Calculated Risk on 12/29/2016 11:12:00 AM

Freddie Mac reported that the Single-Family serious delinquency rate in November was at 1.03%, unchanged from 1.03% in October.  Freddie's rate is down from 1.36% in November 2015.

Freddie's serious delinquency rate peaked in February 2010 at 4.20%.

These are mortgage loans that are "three monthly payments or more past due or in foreclosure". 

Click on graph for larger image

Although the rate is generally declining, the "normal" serious delinquency rate is under 1%. 

The Freddie Mac serious delinquency rate has fallen 0.33 percentage points over the last year, and at that rate of improvement, the serious delinquency rate could be below 1% in December or January.

Note: Fannie Mae will probably report tomorrow.