Freddie Mac: Mortgage Serious Delinquency Rate increased sharply in June, Highest in 7 Years

Freddie Mac reported that the Single-Family serious delinquency rate in June was 2.48%, up from 0.81% in May. Freddie's rate is up from 0.63% in June 2019. This is the highest serious delinquency rate since October 2013. 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 again in July (it takes time since these are mortgages three months or more past due). Mortgages in forbearance are being counted ......(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/32Zf3lH
via IFTTT