Fannie Mae: Mortgage Serious Delinquency Rate Increased Sharply in June

Fannie Mae reported that the Single-Family Serious Delinquency increased to 2.65% in June, from 0.89% in May. The serious delinquency rate is up from 0.70% in June 2019. This is the highest serious delinquency rate since July 2013. These are mortgage loans that are "three monthly payments or more past due or in foreclosure". The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Click on graph for larger image By vintage , for loans made in 2004 or earlier (2% of portfolio), 5.00% are seriously delinquent (up from 3.09% in May). For loans made in 2005 through 2008 (3% of......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/313uQxq
via IFTTT