Freddie Mac: Mortgage Serious Delinquency Rate Decreased in December, Lowest since 2007

Freddie Mac reported that the Single-Family serious delinquency rate in December was 0.69%, down from 0.70% in November. Freddie's rate is down from 1.08% in December 2017.

Freddie's serious delinquency rate peaked in February 2010 at 4.20%.

This is the lowest serious delinquency rate for Freddie Mac since December 2007.

These are mortgage loans that are "three monthly payments or more past due or in foreclosure". 

Click on graph for larger image

The increase in the delinquency rate late last year was due to the hurricanes (These are serious delinquencies, so it took three months late to be counted).

I expect the delinquency rate to decline to a cycle bottom in the 0.5% to 0.7% range - but this is close to a bottom.

Note: Fannie Mae will report for December soon.

from Calculated Risk http://bit.ly/2FYpprs