Freddie Mac: Mortgage Serious Delinquency Rate increased in May, Highest in 2 Years

Freddie Mac reported that the Single-Family serious delinquency rate in May was 0.81%, up from 0.64% in April. Freddie's rate is down from 0.63% in May 2019. This is the highest serious delinquency rate since June 2018. 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". Click on graph for larger image With COVID-19, this rate will increase significantly in June and July (it takes time since these are mortgages three months or more past due). I believe mortgages in forbearance will......(read more)

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