Thursday, March 26, 2020

Freddie Mac: Mortgage Serious Delinquency Rate Unchanged in February

by Calculated Risk on 3/26/2020 05:15:00 PM

Freddie Mac reported that the Single-Family serious delinquency rate in February was 0.60%, unchanged from 0.60% in January. Freddie's rate is down from 0.69% in February 2019.

This matches January as the lowest delinquency rate since November 2007.

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". 

Fannie Freddie Seriously Delinquent RateClick on graph for larger image

This is close to a cycle bottom.   However, with COVID-19, this rate will probably increase in a few months (it takes time since these are mortgage three months or more past due).

Note: Fannie Mae will report for February soon.