Freddie Mac: Mortgage Serious Delinquency rate declined in August, Lowest since October 2008

Freddie Mac reported that the Single-Family serious delinquency rate declined in August to 1.45%, down from 1.48% in July. Freddie's rate is down from 1.98% in August 2014, and the rate in August was the lowest level since October 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 August later this week. Click on graph for larger image Although the rate is declining, the "normal" serious......(read more)

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