Latest News

Freddie Mac: Mortgage Serious Delinquency Rate decreased in February

0

by Calculated Risk on 3/25/2022 12:33:00 PM

Freddie Mac reported that the Single-Family serious delinquency rate in February was 0.99%, down from 1.06% in January. Freddie’s rate is down year-over-year from 2.52% in January 2021.

Freddie’s serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic.

These are mortgage loans that are “three monthly payments or more past due or in foreclosure”.

Click on graph for larger image

Mortgages in forbearance are being counted as delinquent in this monthly report but are not reported to the credit bureaus.

This is very different from the increase in delinquencies following the housing bubble. Lending standards have been fairly solid over the last decade, and most of these homeowners have equity in their homes – and they will be able to restructure their loans once (if) they are employed.

Also – for multifamily – delinquencies were at 0.08%, down from the peak of 0.20% in April 2021.

admin

Q1 GDP Forecasts: Under 1%

Previous article

COVID Update: March 25, 2022; Deaths at 732 per Day, Lowest Since August 2021

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News