Freddie Mac: Mortgage Serious Delinquency Rate increased in April

Freddie Mac reported that the Single-Family serious delinquency rate in April was 0.64%, up from 0.60% in March. Freddie's rate is down from 0.65% in April 2019.

This is the highest serious delinquency rate since last April.

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". 

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With COVID-19, this rate will increase significantly in a few months (it takes time since these are mortgages three months or more past due).

Note: Fannie Mae will report for April soon.