Freddie Mac: Mortgage Serious Delinquency rate declined in June, Lowest since November 2008

Freddie Mac reported that the Single-Family serious delinquency rate declined in June to 1.53%, down from 1.58% in May. Freddie's rate is down from 2.07% in June 2014, and the rate in June was the lowest level since November 2008. 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".  Note: Fannie Mae will report their Single-Family Serious Delinquency rate for May later today. Click on graph for larger image Although the rate is declining, the "normal" serious delinquency......(read more)

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