Fannie, Freddie, both report mortgage delinquency rate dropping

Both Fannie Mae and Freddie Mac report that the rate of serious mortgage delinquency — that is, the percentage of loans 90 or more days past due — continues to drop.

The latest figures (for October) show that about two and a half percent of mortgages are at least three months behind (2.48 percent according to Fannie; 2.58 percent according to Freddie).

That’s still well above the typical serious delinquency rate of less than one percent, but it has been improving — it’s now at its lowest level since December 2008.

This chart, courtesy of Calculated Risk, makes it pretty clear (click to enlarge):

 

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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One Response to Fannie, Freddie, both report mortgage delinquency rate dropping

  1. Dana Anghel says:

    Love reading news like this. Tweeting this article now :) Hopefully we continue to pull out of this mortgage crisis! As a mortgage broker I am seeing a lot more of my business shift from refis to purchases and I’m optimistic for the housing market in 2014!

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