Serious Delinquency Rate Declined in July, Lowest Since May 2008

Fannie Mae reported today that the Single-Family Serious Delinquency rate declined in July to 1.30%, down from 1.32% in June. The serious delinquency rate is down from 1.63% in July 2015. These are mortgage loans that are "three monthly payments or more past due or in foreclosure".  This is the lowest rate since May 2008. The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Click on graph for larger image Although the rate is generally declining, the "normal" serious delinquency rate is under 1%.  The Fannie Mae serious delinquency rate has fallen 0.33......(read more)

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