Anonymous ID: 8856a4 May 28, 2020, 11:07 a.m. No.9347738   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun

Freddie Mac: Mortgage Serious Delinquency Rate increased in April

 

Freddie Mac reported that the Single-Family serious delinquency rate in April was 0.64%, up from 0.60% in March. Freddie's rate is down from 0.65% in April 2019.

 

This is the highest serious delinquency rate since last April.

 

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". With COVID-19, this rate will increase significantly in a few months (it takes time since these are mortgage three months or more past due).

https://www.calculatedriskblog.com/2020/05/freddie-mac-mortgage-serious.html

 

The banks will now have to start planning to eat these-but will put it off as long as they can.