Fannie and Freddie: Single Family Serious Delinquency Rate Decreased in May, Multi-family Increased Slightly
Industry Update
July 8, 2024
Source: CalculatedRisk Newsletter
Single-family serious delinquencies decreased in May, and multi-family serious delinquencies increased slightly.
Freddie Mac reported that the Single-Family serious delinquency rate in May was 0.49%, down from 0.51% April. Freddie’s rate is down year-over-year from 0.58% in May 2023. This is below the pre-pandemic lows.
Freddie’s serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic.
Fannie Mae reported that the Single-Family Serious Delinquency decreased to 0.48% in May from 0.49% in April. The serious delinquency rate is down year-over-year from 0.56% in May 2023. This is also below the pre-pandemic lows, and this is the lowest level since November 2002.
The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59% following the housing bubble and peaked at 3.32% in August 2020 during the pandemic.
For full report, please click the source link above.