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Tuesday, November 26, 2019

Freddie Mac: Mortgage Serious Delinquency Rate unchanged in October

by Calculated Risk on 11/26/2019 04:33:00 PM

Freddie Mac reported that the Single-Family serious delinquency rate in October was 0.61%, unchanged from 0.61% in September. Freddie's rate is down from 0.71% in October 2018.

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

This matches the last three months as the lowest serious delinquency rate for Freddie Mac since November 2007.

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

Fannie Freddie Seriously Delinquent RateClick on graph for larger image

I expect the delinquency rate to decline to a cycle bottom in the 0.4% to 0.6% range - so this is close to a bottom.

Note: Fannie Mae will report for October soon.