Along Calculated risk of 12/22/2020 05:46: 00 PM
Freddie Mac report The serious single family delinquency rate in November was 2.75%, down from 2.89% in October. Freddy’s rate has risen from 0.62% in November 2019.
Freddy’s serious delinquency rate peaked at 4.20% in February 2010.
These are mortgages that are “more than 3 months overdue or foreclosed.”
In this monthly report, overdue mortgages are counted as overdue but are not reported to credit bureaus.
This is very different from the increase in delinquency after the housing bubble. Loan standards have been fairly strong over the last decade and most of these homeowners have capital in their homes. And once hired, you can rebuild your loan.
Note: Fannie Mae will report shortly in November.
In the case of apartments, the delinquency rate was 0.16%., Increased from 0.14% in October and more than doubled from 0.06% in November 2019.
Serious mortgage delinquency rates fell in November
http://feedproxy.google.com/~r/CalculatedRisk/~3/rqsD488rBAQ/freddie-mac-mortgage-serious.html Serious mortgage delinquency rates fell in November