Freddie Mac reported that the Single-Family serious delinquency rate in March was 0.60%, unchanged from 0.60% in February. Freddie’s rate is down from 0.67% in March 2019.
This matches the last two months as the lowest delinquency rate since November 2007.
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”.
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This is close to a cycle bottom. However, with COVID-19, this rate will increase in a few months (it takes time since these are mortgage three months or more past due).
Note: Fannie Mae will report for March soon.