Monday, April 27, 2020

Freddie Mac: Mortgage Serious Delinquency Rate Unchanged in March

by Calculated Risk on 4/27/2020 04:42:00 PM

Freddie Mac reported that the Single-Family serious delinquency rate in March was 0.60%, unchanged from 0.60% in February. Freddie's rate is down from 0.67% in March 2019.

This matches the last two months 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 increase in a few months (it takes time since these are mortgage three months or more past due).

Note: Fannie Mae will report for March soon.