June 24, 2015

Serious Delinquency Rate Reaches 2008 Levels

Home Sales Surging

Freddie Mac's single-family serious delinquency rate declined to 1.58% at May 31, 2015, nearing its lowest level since November 2008 (1.52%). This is good news, meaning that fewer and fewer homeowners with mortgages backed by Freddie Mac are 90-days past due on their mortgage payments or in foreclosure.

This rate is substantially below the rate for the entire U.S. mortgage market, whose seriously delinquent rate was 4.24% at the end of the first quarter of 2015, according the latest available data from the Mortgage Bankers Association's National Delinquency Survey.

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