Freddie delinquency rate down to lowest level in nearly 3 years

HousingWire | Freddie delinquency rate down to lowest level in nearly 3 years The 3.42% delinquency rate on Freddie Mac mortgages is the lowest since August 2009. Meanwhile, the GSE purchased 50% more mortgages in July than the same month a year ago.

Mortgage rates moved lower at their best pace in several weeks today, with the average lender making it back to levels not seen since April 12th. The gains were bigger than normal for two reasons..

The serious delinquency rate, the percentage of loans that are 90 days or more past due or in the process of foreclosure, was 3.11 percent, a decrease of 18 basis points from previous quarter, and a decrease of 84 basis points from last year. The serious delinquency rate was at its lowest level since the third quarter of 2007.

Mortgage rates plummeted to their lowest levels in three years this week. Weak first-quarter economic growth, persistent global economic worries and last week’s anemic jobs report all contributed to.

It was the lowest foreclosure start rate since the fourth quarter of 1988. The percentage of loans that were in some stage of foreclosure, also known as the foreclosure inventory, was about 1.53%,

The serious delinquency rate has been steady at 1.5 percent since August 2018 – the lowest level for any month since March 2007. rates are up in some natural disaster areas but down nearly.

The 15-year fixed-rate average declined to 3.32 percent with an average 0.6 point, its lowest level in nearly. down following the decline in 10-year Treasury yields after a dismal report on real.

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The serious delinquency rate is down from 3.41% in September 2012, and this is the lowest level since December 2008. The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Earlier this week, Freddie Mac reported that the Single-Family serious delinquency rate declined in September to 2.58% from 2.64% in August.

FHFA: Principal reduction would cost Fannie, Freddie $100 billion Principal Reduction Modification. The federal housing finance Agency (FHFA) undertook an extensive evaluation to determine whether to implement a Principal reduction modification program for seriously delinquent, underwater borrowers whose loans are owned or guaranteed by Fannie Mae or Freddie Mac (the Enterprises).